National investment loss lawyers KlaymanToskes is investigating broker Matthew Childs (CRD# 3110916) of Portsmouth Financial Services.
According to FINRA BrokerCheck, Matthew Childs has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”) in connection with FINRA’s findings that he recommended that retail customers purchase NT-ETPs without having a sufficient understanding of the risks and features associated with the products, thereby failing to have a reasonable basis to make those recommendations.
Investors that suffered losses with broker Matthew Childs are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Matthew Childs, of Portsmouth Financial Services, has been suspended from acting as a broker by the Financial Industry Regulatory Authority (“FINRA”). FINRA’s findings disclosed that from March 2017 through May 2020, Portsmouth failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs ), reasonably designed to achieve compliance with its suitability obligations in connection with transactions involving non-traditional exchange-traded products (NT-ETPs). During the same period, Childs allegedly recommended that retail customers purchase NT-ETPs without having a sufficient understanding of the risks and features associated with the products, thereby failing to have a reasonable basis to make those recommendations. As a result, Childs violated FINRA Rules 2111 and 2010. Childs will remain suspended in all capacities for a duration of two months starting from September 3rd,2024 to November 2nd, 2024.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged 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.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances 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 Matthew Childs, or have concerns regarding your investment portfolio at Portsmouth Financial Services, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.