Investor Complaint Against UBS’s Christopher Tolman: Options Strategy

Christopher Tolman (CRD# 2066775), a broker and investment adviser based in New York City, has received a pending complaint alleging that an options overlay strategy investment offered by his firm, UBS Financial Services, was unsuitable. The complaint alleges six-figure damages, according to records maintained by the Financial Industry Regulatory Authority (FINRA). 

One pending complaint listed on Cristopher Tolman’s BrokerCheck report was filed in September 2019 and lists a time frame of “2016-present.” It alleges that the options overlay strategy offered by UBS Financial Services was unsuitable for the customer and misrepresented by the firm. The complaint alleges damages of $800,000.

The above-described complaint includes a “Broker Comment” by Tolman. It states that the client was sophisticated and made an informed decision to participate in the investment strategy, which Tolman says went on to suffer “a difficult period.” “After his review, the client made the decision he understood and liked the strategy and chose to participate at a level that represented a very small portion of his net worth,” the comment goes on. “The client was also kept fully abreast of developments as more challenging market environments manifested. Detailed notes of a conversations were kept all throughout the process and entire relationship. Subsequent to a difficult period for the strategy, the client then acted as though losses were unanticipated and something against which he should be inoculated.”

Christopher Tolman has been registered with UBS Financial Services in New York, New York since 2010. His previous registrations include Credit Suisse Securities in New York, New York; Bear Stearns & Company in New York, New York; Prudential Securities in New York, New York; and Smith Barney Harris Upham & Company in New York, New York. He has passed four securities industry qualifying examinations and his BrokerCheck report lists 45 state securities licenses, including: Delaware, Maine, Maryland, Michigan, Minnesota, Nevada, New Hampshire, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, Washington, Wisconsin, and Wyoming. (Information current as of May 11, 2022.)

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