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Chadwick Watson Allegedly Recommended an Unsuitable Oil and Gas Investment

Oct 31, 2022 Energy Investments

Chadwick Watson (CRD #: 2183286), a broker registered with Lincoln Financial Advisors, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on October 16, 2022. Read on if you want to know more about his conduct as a broker.

Investor Dispute

On July 8, 2022, multiple investors filed a dispute alleging that Chadwick Watson recommended an unsuitable oil and gas investment. This dispute is currently pending.

In a dispute filed on June 8, 2017, an investor alleged that Chadwick Watson executed unsuitable sales and failed to disclose important facts involving an account managed by a third party, a variable annuity, a real estate investment trust (REIT), and an oil and gas program. The client alleged these violations occurred between March 2013 and November 2014. This dispute was settled for $150,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information described in an investor’s profile, such as their tax status, risk tolerance, and age.

Investors who rely on their broker for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 bans the use of deception, manipulation, and other fraudulent means of influencing investors’ decisions. This includes the misrepresentation or omission of information relating to investments, such as their requirements or limitations.

What is a real estate investment trust?

A real estate investment trust (REIT) is a company that owns and manages real estate. Investors who invest in a REIT can profit from these real estate properties without being involved in their management. However, the illiquidity of REITs makes them unsuitable for many investors.

Background Information

Chadwick Watson 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 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination

Chadwick Watson is a registered broker in 39 states and the District of Columbia. He is also a registered investment adviser in Maryland and Texas.

He has also worked for The Lincoln National Life Insurance Company (CRD#:2580).

Kurta Law Can Help

If you worked with Chadwick Watson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.