Jeffrey Pacetti: Complaint Against UBS Advisor Settles for $88K

Cincinnati, Ohio financial advisor Jeffrey Pacetti (CRD# 2169337) recently received an investor complaint that reached a five-figure settlement. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with UBS Financial Services.

Mr. Pacetti’s BrokerCheck report discloses one investor complaint against him. Filed in February 2022, the complaint alleged that as a representative of UBS Financial Services, he recommended an investment that “did not meet the client’s expressed criteria which was ‘not to lose any money.'” The complaint alleged further that Mr. Pacetti represented the investment as “risk-free.” In March 2022 the complaint reached a settlement of $88,347.93.

FINRA rules stipulate that brokers-dealers and their representatives, like Mr. Pacetti, must follow the suitability standard. As FINRA Rule 2111 establishes, this standards holds that brokers may recommend their customers only investments and strategies that are appropriate for the customers’ individual investment profiles, based on reasonable diligence of the investments and the profiles. An investor’s profile includes information including their investment objectives, investment experience, risk tolerance, net worth, income, and more. The suitability standard is not to be confused with the fiduciary standard which investment advisers must follow, requiring that they place the investor’s interests above their own.

According to the Financial Industry Regulatory Authority, Jeffrey Pacetti holds 30 years of securities industry experience. Based in Cincinnati, Ohio, he has been a broker and an investment advisor with UBS Financial Services since 1999. Prior to his affiliation with UBS Financial Services, he was a broker with Banc One Securities Corporation in Chicago, Illinois from 1991 until 1999. His credentials include the passage of four securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 31 state licenses. (Information current as of July 31, 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.