Articles Tagged with UBS Yield Enhancement Strategy

YES Strategy Investors Suffer Losses, Say Risks Were Misrepresented

Another Financial Industry Regulatory Authority (FINRA) arbitration claim has been filed against UBS Financial for losses sustained in its Yield Enhancement Strategy. The claimants contend that their financial advisors at the broker-dealer unsuitably recommended this iron condor strategy that was misrepresented to them as low risk. 

The investors say that they worked with UBS brokers Brian Jay Donaldson and Frank Frederick Baldwin. According to BrokerCheck, this is Baldwin’s first customer dispute and Donaldson’s second. The first one involving Donaldson is also over UBS YES losses with that claimant seeking $600K in damages.

FINRA Arbitration Panels Award Damages To UBS YES Claimants

Two Financial Industry Regulatory Authority (FINRA) panels have ordered UBS Wealth Management (UBS) to pay investors over $1.1 million for losses they sustained from the firm’s Yield Enhancement Strategy (YES). 

This complex options trading strategy that promised investors stable, incremental returns has cost wealthy UBS customers significant losses. Many of them are now contending that misrepresentations and omissions were made about the degree of risk involved. Additionally, these investments were unsuitable for their investment accounts. 

$400K UBS YES FINRA Arbitration Awarded to Investors in Baltimore, Maryland  

In one of the first in-person arbitration in the last 18 months, a Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded two investors $405K in their UBS Yield Enhancement Strategy claim against UBS Financial (UBS).  

Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) represented these UBS YES strategy investors in their FINRA arbitration case, which was heard in Baltimore, Maryland. 

FINRA Panel’s Ruling is UBS Financial’s Third Loss Involving Yield Enhancement Strategy

In a Financial Industry Regulatory Authority (FINRA) arbitration ruling, UBS Financial Services (UBS) must pay an Ohio couple $371K for financial losses they sustained from the brokerage firm’s Yield Enhancement Strategy (YES). 

This is the third UBS Yes Strategy arbitration claim that the broker-dealer has lost, including one award for $1M to two Denver investors this year. The first award against UBS over its Yield Enhancement Strategy, for $90K, was granted to an investor in December. 

Florida Arbitration Panel Refuses To Expunge Advisors’ Record of Options Overlay Case

In December, a  Financial Industry Regulatory Authority (FINRA) arbitration panel in Boca Raton, Florida awarded a UBS Wealth management client and retiree $89,675 in his UBS Yield Enhancement Strategy (YES) claim over significant losses he sustained in the brokerage firm’s options overlay strategy. 

The award was for his unsuitability claim against UBS Financial Services. He also alleged negligence, fraud, breach of fiduciary duty, negligence, omissions, failure to supervise, and breach of contract.

New York Stockbroker and Investment Advisor is Accused of Misrepresentations and Unsuitability  

Eric Andrew Wittenberg, a managing director and private wealth advisor at UBS Group AG (UBS) in the New York metropolitan area, is being blamed by a number of the firm’s customers for investment losses they suffered after he recommended the UBS Yield Enhancement Strategy (YES) to them.

Wittenberg is one of many UBS registered representatives named in Financial Industry Regulatory Authority (FINRA) arbitration claims over this program.

Florida Financial Advisor is Named in at Least 10 FINRA Cases, Including One $25 Million Claim 

If you suffered losses while working with UBS Financial Services (UBS) stockbroker, Jose Manuel Cornide, Jr., you may be able to file a Financial Industry Regulatory Authority (FINRA) arbitration claim for your losses. Cornide, who is based out of Coral Gables in South Florida, is the head of Edinroc Financial Group, which is a UBS private wealth management group.

Jose Cornide is named in multiple FINRA arbitration cases brought by customers for losses they suffered from the firm’s Yield Enhancement Strategy (YES Strategy). They are just some of the UBS clients who were sold on what was supposed to be a  low-risk trading strategy that would allow them to earn enhanced yield. Instead, many of these UBS customers are now contending with significant losses. 

Pending Allegations Likely Involve UBS YES Strategy 

Frederick Maximillian Kort, a former UBS Financial (UBS) broker, is facing allegations that he made misrepresentations when making unsuitable investment recommendations to customers. 

According to his BrokerCheck record, there are two pending customer disputes against him,  both involving an options overlay strategy. While the disclosure does not specifically state so, this is likely UBS’s Yield Enhancement Strategy, in which many of the firm’s registered representatives have come under fire for selling to investors. 

Senior Investor Sues UBS Financial For Losses Caused by Yield Enhancement Strategy 

A Texas retiree says UBS’s Yield Enhancement Strategy (“YES”) is to blame for investment losses he suffered over a short time period at the end of 2018.  According to the claim filed with the Financial Industry Regulatory Authority (“FINRA”), the YES program was unsuitably recommended to him as it is a highly risky investment program. Now, the claimant is seeking up to $100,000 in damages.

Our broker-dealer fraud lawyers at Shepherd Smith Edwards & Kantas (“SSEK Law Firm”) are representing this investor as well as several others seeking to recoup wrongful losses from UBS Financial’s YES program. SSEK Law Firm represents investors nationwide, including in UBS YES claims.  The most recent case SSEK Law Firm has filed will be held in Dallas. 

Claimants Lose Retirement Funds in Complex Options Trading Strategy

A retired couple is suing UBS Financial Services (UBS) after they sustained at least $800,000 in losses from investing in the firm’s Yield Enhancement Strategy (YES). 

The investors contend that their UBS broker made misrepresentations and omissions when recommending this unsuitable investment strategy to them and discouraged them from leaving the YES program even as their losses mounted. Now, the investors are seeking up to $1,000,000 in damages, losses, and other costs.

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