Former Chicago, Illinois financial advisor Joseph Cannon (CRD# 6341199) was recently sanctioned and barred in connection with alleged rule violations....
Read MoreCarlson Law Files Claim For Jack Yvars Clients
Today, Carlson Law filed an arbitration claim with the Financial Industry Regulatory Authority for two clients of Osaic Wealth, Inc. financial advisor, Jack Yvars, seeking over $100,000 in damages.
According to the filing, it is alleged that Osaic’s registered representative, Jack Yvars, made highly speculative recommendations in the clients’ accounts that lost approximately 50% of their value, causing combined losses of over $100,000—a substantial loss of the clients’ net worth. The claim alleges that Yvars’ advice was unsuitable for investors planning for retirement.
Yvars recommended mutual funds to Carlson Law’s clients, such as the Morgan Stanley “Discovery” Fund (Ticker: MPEGX) and the Morgan Stanley “Inception” Fund (Ticker: MSSGX), which lost a significant amount of value.
These are not the first individuals to complain about Yvars. According to his BrokerCheck Report, another Yvars customer brought a FINRA arbitration on April 20, 2023, alleging, “mutual funds recommended to her in 2021 and thereafter did not meet with her investment objectives and risk tolerance.” The client claimed damages of $250,000.
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.
