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Options Overlay Complaints Against UBS Rep Nicholas Finn
Financial Industry Regulatory Authority (FINRA) records reveal that New York City broker and investment adviser Nicholas Finn (CRD# 2295090) has received two pending customer complaints. The complaints against the UBS Financial Services representative concern investments in an options overlay strategy.
One of the complaints, filed in August 2019, alleges that Finn made false representations of facts connected with the options overlay strategy investment, which the complaint alleges was not suitable for the customer’s profile and needs. The pending complaint seeks unspecified damages.
A second pending complaint alleges Finn, as a UBS Financial Services representative, misrepresented the options overlay investment, which the complaint alleges was not suitable for the customer. This complaint, filed in May 2019, alleges the time frame of the misconduct was from 2017 until the present. It also seeks unspecified damages. In a comment on the disclosure, he denied the allegations. “I am comfortable that this customer was treated fairly, the account was handled properly, and, as always, I acted in the best interests of the client at all times,” he wrote.
Nicholas Finn’s FINRA records list one other customer complaint. In 2004 a customer alleged that as a representative of Lehman Brothers, Finn provided unsuitable investment advice that led to losses. The complaint reached a settlement in 2006 of $35,000.
Nicholas Finn has been registered with UBS Financial Services in New York City since 2015. His previous registrations include Credit Suisse Securities in New York City, where he was registered from 2008 until 2015; Lehman Brothers in New York City, where he was registered from 1998 until 2008; Fiduciary Financial Services Corporation in San Mateo, California, where he was registered from 1997 until 1998; and Sanford C. Bernstein & Company, where he was registered from 1993 until 1996. He has passed six securities industry qualifying examinations and his BrokerCheck report lists 29 state securities licenses. (Information current as of May 11, 2022.)
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