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Rhode Island Attorney Who Sues Stockbrokers Who Made Unsuitable Investment Recommendations

Rhode Island has scores of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to recommend unsuitable securities investments in light of the customers stated investment objectives, risk tolerance, financial condition, time horizon and other important factors and to engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Rhode Island securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures.

For example, Peter Orlando, a Barrington, Rhode Island-based registered representative formerly employed with MetLife Securities, Inc. n/k/a MML Investors Services LLC, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint claiming that he failed to disclose that an elderly customer had named him as account beneficiary of the customer’s will and bank account. FINRA’s findings stated that Peter Orlando utilized his position of trust with his client, an 81-year-old widow, to obtain durable power of attorney, health power of attorney, designation as the executor and primary beneficiary of the customer’s will, and beneficiary of the customer’s bank account. Mr. Orlando did not disclose these arrangements to his member firm, which bars its representatives from serving in a fiduciary capacity or being designated as an account beneficiary for anyone other than family members.

According to FINRA, Mr. Orlando made an unsuitable recommendation to the above-referenced customer when he advised the client to surrender a variable annuity resulting in surrender fees and charges of almost $4,000. FINRA’s complaint alleged that Mr. Orlando stated his client needed to surrender the variable annuity so he could assist her with personal financial matters. FINRA’s findings alleged violations of FINRA Rule 2010, for unethical conduct, and violation of FINRA Rules 2111 and 2010 for the alleged unsuitable recommendation.

Experienced Unsuitable Investment Lawyers Who Handle FINRA Arbitrations Throughout Rhode Island and Nationwide

Are you a Rhode Island investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Broker-Dealer attorneys always argue to the arbitration panel the securities transactions (buy, sell or hold) and/or strategies to engage in short selling, trade on margin, use securities based lending and complex option or futures trading strategies were suitable for the customer. They routinely misrepresent the customers’ investment objectives, risk tolerance and financial condition on account documents. Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade.

More importantly, you will need the representation of an experienced, top rated and nationally recognized FINRA arbitration attorney — a lawyer who knows FINRA rules and procedures and how to handle these FINRA arbitration cases and other complex legal issues. By hiring a top rated securities attorney like Robert Wayne Pearce with over 40 years of experience on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities attorneys to recover your investment losses for unsuitable recommendations and all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings!

At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities breach of fiduciary duty claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides breach of fiduciary duty, such as claims involving securities misrepresentation and stockbroker fraud, negligence, failure to supervise, and unsuitable recommendations by stockbrokers and investment advisors. Attorney Pearce and his staff represent investors throughout Rhode Island, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing - NO FEES-NO COSTS - unless we put money in your pocket after receiving a settlement or FINRA arbitration award.

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Free Initial Consultation With An Experienced Attorney Serving Rhode Island Residents in FINRA Arbitrations Involving Unsuitable Investment Claims

The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle unsuitable investment claims and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Rhode Island citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Client Reviews
★★★★★
Robert Pearce is part of that unusual breed of lawyers that are able to create empathy with clients and thoroughly adopt their cause. No half efforts here. He and his group of professionals are outstanding strategists that can execute with precise fervor and unyielding determination. Theirs is a huge wave of facts, research, precedents and preparation, that has impressed me in its thoroughness and creativity, and most importantly with the results. No stone goes unturned and no effort is ever spared. In my book, he and they are those of a very rare kind that one wants to keep for a very long time. Ramon F.
★★★★★
This law firm is the real deal. We were so lucky that they took our case as they have so much experience in securities and all the wrongdoing that happens in these investment companies where they mislead you and your money (as in our case) into schemes that are not what you think they are. Mr. Robert Pearce is one of the best lawyers around, a truly professional who will fight for you and will tell you as it is all the time. Astrid M.
★★★★★
Mr. Pearce is a great professional and attorney. He led me through every step of the process in a clear, direct and straightforward manner. I highly recommend him as a securities attorney. Rey S.
★★★★★
Just like the song from HAMILTON, it's so nice to have Bob Pearce on your side. He is the consumate plaintiff's lawyer: smart. dedicated, fully able to try a case but a great negotiator in a mediation. He did a wonderful job for us, fully supporting us through the process and more than holding his own against a large national law firm. Maurice Z.
★★★★★
No lawyer except Bob said I had a chance of winning. When Ubs lawyers laughingly offered me zero to settle the dispute, Bob became even more determined to prove everybody wrong. Bob was extremely prepared, and always a step ahead of the opposing attorneys throughout the arbitration. In the end, Bob and I had the last laugh when the arbitrators awarded me almost 6 million dollars. J. Blanco