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Blake Thompson: $229K Complaint Against Irvine UBS Advisor

A pending investor complaint against UBS Financial Services advisor Blake Thompson (CRD# 6219056) alleges he caused “huge losses” in a customer’s account. Financial Industry Regulatory Authority records show that the broker and investment advisor is based in Irvine, California. 

Mr. Thompson’s BrokerCheck report discloses one investor complaint against him. Filed in April 2022, it alleges that as a representative of UBS Financial Services, he “panicked and made the wrong decision by fire selling some of his holdings with huge losses.” The pending complaint alleges damages of $229,602.

FINRA rules establish numerous standards that stockbrokers must follow. One important piece of guidance is the suitability rule, which states that stockbrokers must “have a reasonable basis to believe” that the investments and/or investment strategies they recommend to their clients are appropriate for the client’s background and needs—that is, that the recommendations are suitable. As outlined in FINRA Rule 2111, brokers ascertain an investment’s suitability based on “information obtained through reasonable diligence of the firm or associated person to ascertain the customer’s investment profile.” The customer’s investment profile includes their age, net worth, risk tolerance, income, and more. Brokers who recommend unsuitable transactions may be liable to their clients in the event of losses.

According to the Financial Industry Regulatory Authority, Blake Thompson holds four years of securities industry experience. Based in Irvine, California, he has been a broker and investment advisor with UBS Financial Services since 2018. His credentials include the passage of three securities industry qualifying exams: the Uniform Combined State Law Examination, or Series 66; the General Securities Representative Examination, or Series 7; and the Securities Industry Essentials Examination, or SIE. He is licensed in Alabama, Arizona, California, Colorado, Connecticut, Florida, Idaho, Illinois, Kentucky, Maryland, Massachusetts, Michigan, Montana, Nevada, New Jersey, New Mexico, New York, Ohio, Oregon, Tennessee, Texas, Utah, Vermont, Virginia, and Washington. (Information current as of July 6, 2022.)

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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