HOLBROOK, NY, USA, June 10, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes issues an important notice to customers of financial advisor Nabil “Bilo” Bouab, who is facing several pending customer complaints alleging unsuitable investment recommendations and failure to act in his customers’ best interests. The law firm urges all current and former customers who suffered investment losses with Bilo Bouab at American Portfolios and/or Garden State Securities to contact the firm immediately at 888-997-9956.
KlaymanToskes reports that the firm is currently pursuing FINRA arbitration claims against former American Portfolios financial advisor Nabil “Bilo” Bouab (CRD# 4340284), in connection with allegations including unsuitable investment recommendations, failure to act in his customers’ best interests, misrepresentations and omissions of material facts, and failure to supervise.
Bilo Bouab was previously registered with American Portfolios in Ho-Ho-Kus, NJ and Holbrook, NY from 2013 to November 2022, when he was permitted to resign due to allegations that he impersonated a client to effectuate trades in the client’s account. Bouab was also previously suspended from acting as a broker by FINRA due to the same alleged customer-related misconduct. Bilo Bouab is currently registered as a broker/investment advisor with Garden State Securities in Red Bank, NJ.
Financial advisors and their firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of Bilo Bouab and/or any other financial advisor who suffered investment losses at American Portfolios or Garden State Securities are encouraged to contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation 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
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com