Barry Schwartz is the Subject of a Million-Dollar Dispute
Barry Schwartz (CRD #: 1022377), a broker registered with UBS Financial Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on February 21, 2024. Details concerning this dispute are provided below.
Investor Allegations
On December 5, 2023, investors alleged that Barry Schwartz recommended unsuitable investments and overconcentrated their portfolio. The investors further alleged misrepresentation. They are seeking $1,000,000.
FINRA Rule 2111 – Unsuitable Overconcentration
FINRA Rule 2111 prohibits unsuitable investment recommendations. Overoncenrated investments are often unsuitable because they expose the investor to unnecessary risk. Brokers are required to consider their investor’s risk tolerance when they make recommendations.
Diversified portfolios expose investors to a broader swath of the market and lessen the chance that an investor will suffer major losses following a drop in share prices for a particular stock or sector. Investors who rely on brokers for recommendations may be able to recover losses following overconcentration by pursuing FINRA arbitration.
Background Information
Barry Schwartz has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
- Series 24 General Securities Principal Examination
He is a registered broker in 22 states and is a registered investment advisor in Florida, Georgia, New Jersey, and Texas.
During his 38 years of experience, he has registered with ten firms. These are the three most recent:
- UBS Financial Services (CRD #: 8174)
- AllianceBernstein (CRD #: 108477)
- Sanford C. Bernstein & Co. (CRD #: 104474)
Kurta Law Can Help
If you have worked with Barry Schwartz and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.