National investment loss lawyers KlaymanToskes is investigating Milind Dalal (CRD# 2368965) of Clarity Wealth Advisors and PKS Financial Services, following the filing of a customer complaint alleging $500,000 in damages due to unsuitable investment advice and negligence related to Casa Blanca Investments.
Investors that suffered losses with Milind Dalal 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, Milind Pinak Dalal is currently registered as an investment advisor with Clarity Wealth Advisors and Purshe Kaplan Sterling Investments in San Jose, CA.
Purcell has been hit with a customer complaint alleging $500,000 in damages due to negligence and breach of fiduciary duty. The complaint further alleges that Dalal and Clarity Wealth Advisors provided bad advice to the client in relation to the investment club Casa Blanca Investments.
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.
Under Reg BI, 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 or omit material facts when making investment recommendations. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making unsuitable investment recommendations.
Facts about each investor, such as their financial situation/needs, age, employment status, tax status, investment objectives and experience, risk tolerance, and what other investments they may be holding must be taken into consideration by brokers/financial advisors in order to meet the “reasonable diligence” requirement of FINRA’s suitability rule. These factors help determine the suitability of a particular investment or investment strategy for a particular investor.
KlaymanToskes can help you determine if your investment loss is due to unsuitable investment advice, or other securities violations. 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. Investors can learn more about securities violations by visiting our account activity violations and account related violations pages.
Former and current customers of Milind Dalal who suffered losses at Clarity Wealth Advisors or PKS Financial Services 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