Eric Christensen: UBS Advisor Received $597K Theft Complaint

A recent investor complaint against Stuart, Florida financial advisor Eric Christensen (CRD# 4719720) alleged he engaged in criminal theft that resulted in more than $500,000 in damages. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with UBS Financial Services, and that he has received several other investor complaints.

Mr. Christensen’s BrokerCheck report discloses three investor complaints. The most recent, filed in April 2022, alleged that as a representative of UBS Financial Services, he committed “criminal theft and misappropriation.” The complaint alleged damages of $597,517.84 and was denied by the firm. (When a complaint is denied, for reference, this is not necessarily mean it has no basis in fact. Customers can still pursue a recovery through other actions, like FINRA arbitration claims.)

A second investor complaint, filed in 2011, alleged that Mr. Christensen misrepresented and recommended unsuitable investments in exchange-traded funds while at UBS Financial Services. The complaint reached a settlement of $39,000.

In a comment on the 2011 complaint’s disclosure, Mr. Christensen defended himself against the allegations, writing that the product “was suitable for the client and was thoroughly explained to the client.”

A third investor complaint, filed in 2009, alleged that he misrepresented and omitted information regarding an investment in structured products while at UBS. In 2010 the complaint reached a settlement of $34,000.

According to the Financial Industry Regulatory Authority, Eric Christensen holds 18 years of securities industry experience. Based in Stuart, Florida, he has been a broker and an investment advisor with UBS Financial Services since 2003 and 2004, respectively. His credentials include the passage of four securities industry qualifying examinations: 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 is licensed in California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Michigan, Minnesota, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, and Washington. (Information current as of August 3, 2022.)

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