Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Hector Mercado: UBS Financial Advisor Has Four Complaints

Hector Mercardo, of UBS Financial Services in Miami, Florida, has four customer complaints on his regulatory report maintained by the Financial Industry Regulatory Authority (FINRA). Of the four complaints, three are from April 2016 to May 2017 and appear to relate to Puerto Rico closed-end bond funds and municipal bonds.

One claim, alleging “misrepresentations, unsuitability, and over concentration concerning their investments in closed-end funds” is still pending. Another complaint, dated May 3, 2017, alleging “unsuitable recommendations, over-concentration and misrepresentations in connection with their purchase of closed-end funds and Puerto Rico bonds” settled for $80,000. The third recent complaint, dated April 19, 2016, settled for $21,600. The customer alleged “unsuitability, misrepresentation, and over-concentration in connection with investments in Puerto Rican closed-end bond funds and municipal bonds.”

Prior to those three complaints, Hector Mercado only had one small customer complaint in 2005 that settled for $2,993.09. That client alleged “Without even asking my opinion, he bought about $19,000 more in shares of the two funds then the total money proceeds which I had received from the sale of my stock in Western Bank.”

Prior to his employment with UBS in Miami, Hector Mercado was employed with UBS in Puerto Rico and Popular Securities in Puerto Rico. He was also licensed with Marketing One Securities, Painwebber, Smith Barney Shearson, and Lehman Brothers.

If you lost money due to unsuitable investments, please call us at 888-976-6111 for a free consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Jonathan Krueger: ProShares ETF Complaint Against Larson Financial Rep

    Jonathan Krueger (CRD# 4416059), a broker and financial advisor based in St. Louis, has received a pending investor complaint alleging...

    Read More
  • Brian Visconti: $200K Complaint Against Fired Raymond James Rep

    A pending investor complaint alleges former Raymond James & Associates representative Brian Visconti (CRD# 5851551) made improper investment recommendations. Financial...

    Read More
  • Westlake Village Broker Thomas Swan Under SEC Investigation

    The US Securities and Exchange Commission is investigating Westlake Village, California stockbroker Thomas Swan (CRD# 1698430) over alleged violations of...

    Read More
  • New Investor Complaints Against Sunrise Investment’s Celia Zhang

    Investor complaints against San Gabriel stockbroker Celia Zhang (CRD# 5918387) allege that she recommended unsuitable investments. Financial Industry Regulatory Authority...

    Read More
  • Previous
  • Next