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Adam Epstein: Complaint Against UBS Advisor Settled for $850K

New York City financial advisor Adam Epstein (CRD# 4043653) has received an investor complaint that reached a six-figure settlement. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with UBS Financial Services, and that he is also registered with its office in Westhampton Beach, New York.

Mr. Epstein’s BrokerCheck report discloses one investor complaint. Filed in September 2023, it alleged that as a UBS Financial Services representative, he did not inform the customer about an unsuitable transaction he placed. In October 2023 the complaint reached a settlement of $850,000.

FINRA rules require brokers like Mr. Epstein to recommend investments and investment strategies that meet a standard called suitability for their clients. Outlined by FINRA Rule 2111, the suitability standard describes the need for brokers to “have a reasonable basis to believe that a recommended transaction or investment strategy” is appropriate for an investor’s profile, which includes their age, financial situation, liquidity needs, risk tolerance, and other concerns. Brokers who recommend unsuitable investments, transactions, and/or strategies may be liable for damages.

According to the Financial Industry Regulatory Authority, Adam Epstein holds 23 years of securities industry experience. Based in New York City and Westhampton, New York, he has been a broker and an investment advisor with UBS Financial Services since 2015. His registration history includes Credit Suisse Securities (New York, New York; 2012-2015), Sanford C. Bernstein & Company (New York, New York; 2006-2012), and Fam Distributors (New York, New York; 1999-2006). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Futures Managed Funds Examination, or Series 31; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He holds 42 state licenses. (Information current as of January 11, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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