National investment loss lawyers KlaymanToskes is investigating James Cox (CRD# 2957150) of Providence Private Wealth and LPL Financial, following the filing of a customer complaint alleging damages due to unsuitable recommendations to invest in Annuities, and that the customers received misinformation which caused them to overspend from their accounts.
Investors that suffered losses with James Cox may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lawrence@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, James Henry Cox IV is currently registered as a broker with LPL Financial and as an investment advisor with NewEdge Advisors in Arlington Heights, IL. Cox is also reportedly doing business as Providence Private Wealth and Cefflio Wealth Management. Cox was also previously registered with Wells Fargo Clearing Services from 2012 to 2019.
Cox has been hit with a customer complaint alleging damages to the customers’ LPL Financial, Wells Fargo Clearing Services, and NewEdge Advisors account due to being recommended to invest in Annuities that they did not understand. The customers further allege that they were provided with misinformation that caused them to overspend from their accounts.
SEC Regulation Best Interest, a/k/a “Reg BI” establishes a “best interest” standard of conduct for brokers and brokerage firms making recommendations of securities investments and investment strategies to their customers, under the Securities Exchange Act of 1934.
Investment advisors and their firms have a responsibility to make recommendations with their customer’s best interest in mind, based upon the client’s personal needs and preferences.
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 advisor did not act in their best interest.
Brokers and financial advisors must consider an investment’s risk and ensure that they do not misrepresent material facts when making investment recommendations. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making unsuitable investment recommendations.
The violations discussed above each provide a basis for liability in a FINRA arbitration claim. FINRA arbitration is a more cost-effective process for investors, often occurring with increased speed and efficiency over a court proceeding. To learn more about additional securities violations, see our account activity violations page.
Former and current customers of James Cox who suffered losses at Providence Private Wealth, LPL Financial, NewEdge Advisors, and/or Wells Fargo, are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
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.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com