National investment loss lawyers KlaymanToskes is investigating John Forster (CRD# 1303832) of Merrill Lynch, following the filing of a pending customer complaint alleging $272,000 in damages due to failure to act in the customer’s best interest, along with an unsuitable investment recommendation in a variable annuity.
Investors that suffered losses with John Forster at Merrill Lynch in Washington, D.C. are encouraged to 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, John James Forster has been hit with a customer complaint alleging $272,000 in damages due to failure to act in the customer’s best interest, along with an unsuitable investment recommendation in a variable annuity.
Forster has five additional complaints disclosed. The complaints filed include allegations of unauthorized trading, misrepresented risks of an investment strategy, and the improper implementation of a margin balance. One complaint was settled in favor of the investor for $750,000.
Financial advisors and their firms have a fiduciary duty to recommend suitable investments that are in their customers’ best interests. Brokers/advisors must consider an investment’s risk, ensure that they do not misrepresent material facts, and/or overconcentrate the customer’s portfolio in unsuitable investments. 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. To learn more about additional securities violations, see our account activity violations page. FINRA arbitration is a more cost-effective process for investors, often occurring with increased speed and efficiency over a court proceeding.
Former and current customers of John Forster who suffered investment losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com to discuss our investigation and 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 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