National investment loss lawyers KlaymanToskes is investigating broker Christopher Watkins (CRD# 2376887) of Watkins Financial Services, who has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”), following allegations that he charged customers more than a fair commission on equity transactions by failing to consider all factors relevant to the fairness of those commissions.
FINRA’s findings stated that Watkins generally charged a percentage of each transaction’s principal value approaching five percent that would produce a round number dollar amount. Watkins allegedly charged these customers unfair commissions that substantially exceeded what he charged other member firm customers at arm’s length for similar transactions. In addition, FINRA found that on some occasions, Watkins charged an average aggregate commission in excess of five percent to execute a proceeds transaction (to purchase securities using the proceeds from selling securities at or about the same time).
These commissions were purportedly not justified by market conditions; execution cost; the provision of any special brokerage services; the value of any brokerage services rendered by reason of Watkins’ experience in or knowledge of the securities or the market; or any other relevant factor. In addition, Watkins determined the commissions on purchases in proceeds transactions without considering the commissions on the corresponding sales. In all, FINRA reported that Watkins overcharged these customers by $42,768.72.
Investors that suffered losses with broker Christopher Watkins are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigation of broker Christopher Watkins:
If you suffered losses with broker Christopher Watkins, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Christopher Watkins. These signs could potentially indicate broker misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Watkins Financial Services are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate the specific circumstances of your case is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Christopher Watkins or have concerns regarding your investment portfolio at Watkins Financial Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss recovery options.