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Ex-UBS Broker Francis Xavier Amsler Investors Recover Over $10M

April 26, 2023

Investment Losses With Francis Amsler at Rockefeller Financial in Houston, TX? Contact KlaymanToskes

National investment loss lawyers KlaymanToskes is investigating Francis Xavier Amsler (CRD# 2526813) following the Houston, Texas-based broker/investment advisor’s 14 customer complaints and over $10 million in settlements and arbitration awards in favor of the investors. 

Amsler was registered at UBS Financial Services until 2020 and is currently registered at Rockefeller Financial and Rockefeller Capital Management in Houston, TX. The majority of the complaints filed against Amsler allege ​​unsuitable recommendations to invest in and hold an options overlay strategy at UBS also known as the YES Strategy.

Investors that suffered losses with Francis Xavier Amsler at UBS Financial or Rockefeller Financial may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq. for a free consultation immediately at 888-997-9956 or lklayman@klaymantoskes.com to discuss your recovery options.

Francis Xavier Amsler: Over $10M in Settled/Awarded Customer Complaints

According to FINRA BrokerCheck, Francis Xavier Amsler has 14 customer complaints, of which 8 have been settled in favor of the investors and 4 have been awarded damages in arbitration. The remaining two complaints were denied by the firm. 

Customers of Francis Amsler have recovered $9,031,165.44 in settlements and $4,683,652.99 in arbitration awards, for a total of $13,714,818.4 in recovered investor damages. The allegations of each customer and their recovery amounts are listed below:

Filed 7/21/2022: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $699,943.11)

Filed 2/5/2021: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $700,493) 

Filed 1/28/2021: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $922,979)

Filed 1/12/2021: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $435,262)

Filed 12/16/2020: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $923,106)

Filed 12/15/2020: Amsler was a subject of the customers’ complaint against his member firm that asserted the following causes of action: breach of fiduciary duty; negligence; negligent supervision; fraud; breach of contract; violation of Sections 10(b) of the Securities Exchange Act, and Rule 10b-5 of the Securities and Exchange Commission; and violation of the Texas Securities Act. The causes of action relate to a managed-account, options strategy product called the Yield Enhancement Strategy (“YES”).
(Awarded $687,403.00 in compensatory damages, $58,644.00 in costs, $229,134.33 in attorneys’ fees, and $425 in reimbursement of the initial claim filing fee)

Filed 12/11/2020: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $975,000)

Filed 12/7/2020: Amsler was a subject of the customers’ complaint against his member firm that asserted the following causes of action: breach of fiduciary duty, negligence, negligent supervision, fraud, breach of contract, violation of Section 10(b) of the Securities Exchange Act and Rule 10b-5 of the Securities and Exchange Commission, violation of the Texas Securities Act, and violation of the Georgia Securities Act. The causes of action relate to a managed-account, options strategy product called the Yield Enhancement Strategy (“YES”).
(Awarded $475,482.00 in compensatory damages, $500,000 in punitive damages, $325,161 in attorneys’ fees, and $41,475 in costs)

Filed 12/7/2020: Amsler was a subject of the customer’s complaint against his member firm that asserted the following causes of action: breach of fiduciary duty; negligence; negligent supervision; fraud; breach of contract; violation of Sections 10(b) of the Securities Exchange Act and Rule 10b-5 of the Securities & Exchange Commission; and violation of the Texas Securities Act. The causes of action relate to a managed-account, options strategy product called the Yield Enhancement Strategy (“YES”).
(
Awarded $900,000 in compensatory damages, $56,717.66 in costs, and $225,000 in attorneys’ fees) 

Filed 11/19/2020: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $511,753)

Filed 11/19/2020: Investor alleged unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy. (Settled for $3,862,629.33)

Filed 11/13/2020: Amsler was a subject of the customers’ complaint against his member firm that asserted the following causes of action: violations of state and federal securities laws (securities fraud); fraud; breach of fiduciary duty; negligence; gross negligence; negligent supervision; and breach of contract. The causes of action related to the investors’ allegation that they were solicited to invest in a high-risk options trading strategy, the Yield Enhancement Strategy (“YES”).
(Awarded $1,184,211 in compensatory damages)

Filed 11/4/2020: Investor alleged he was pitched an unsuitable options overlay strategy which was a conflict of interest and the recommendation failed to disclose the risks associated with the overall strategy. (Alleged Damages 1,775,430.13, Denied by the firm)

Filed 4/7/2020: Investor alleged his Financial Advisors invested his money in a super high risk strategy. The client further alleges that the risks were not disclosed to them. The alleged damages are estimated to be in excess of $5,000.00. (Denied by the firm).

UBS Financial’s Fraud Charges Related to its YES Options Strategy

In 2022, UBS Financial Services agreed to pay $25 million to settle fraud charges with the Securities and Exchange Commission (“SEC”) related to its “Yield Enhancement Strategy” (Y.E.S.) Strategy. In its order, the SEC stated that “YES had the potential to generate modest returns during periods of low market volatility; however, the strategy could — and eventually did – suffer losses during periods of high market volatility.”

UBS characterized the Y.E.S. strategy as having limited correlation to the market and having downside protection. Instead, UBS YES investors suffered losses of 18% by the end of 2018 when the market became volatile. An estimated $2 billion in funds were allocated to YES accounts

Investors that suffered losses in the UBS Yield Enhancement Strategy (YES) may have recovery options through FINRA arbitration. The brokers/advisors that made these recommendations may be held liable. Contact KlaymanToskes today at 888-997-9956 or lklayman@klaymantoskes.com for a free consultation to discuss your potential case.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com