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Christopher George Allegedly Failed to Act in Client’s Best Interest

Sep 12, 2022 Investor Disputes

Christopher George (CRD #: 2618582), a broker registered with UBS Financial Services, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on August 20, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On May 5, 2022, an investor alleged that Christopher George failed to explain the moving of bonds into the client’s managed account and that this was not in the client’s best interest. The investor also alleged that Christopher George charged excessive fees and commissions.

These actions allegedly occurred between January 2, 2020, and December 31, 2021. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an external review, and investors may be able to recover their losses by seeking out FINRA arbitration after a denial.

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, such as investment’s limitations, requirements, or potential risks.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

Some common violations of this rule include:

  • Recommendations of high-risk investments, which are more likely to lose money for the client.
  • Recommendations of illiquid investments, which can incur high fees if the investor attempts to sell them too soon.
  • Excessive trading, which is quantitatively unsuitable. This means the broker executed a number of trades beyond what was appropriate for the investor’s profile.
  • Recommendations of unsuitable investment strategies. Overconcentration of securities in a certain stock or sector, for example, is unsuitable for many investors due to its degree of risk.

Investors who lose money through unsuitable investment recommendations can seek out FINRA arbitration and potentially recover their funds.

Background Information

Christopher George 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 6 – Investment Company Products/Variable Contracts Representative Examination

Christopher George is a registered broker in 24 states and the Virgin Islands. He is also a registered investment adviser in California and Texas.

He has also worked for the following firms:

  • Morgan Stanley Smith Barney (CRD#:149777)
  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley DW (CRD#:7556)
  • WM Financial Services (CRD#:599)
  • Great Western Financial Securities (CRD#:14229)

Kurta Law Can Help

If you worked with Christopher George and you have concerns about your investments, please contact us today at 877-600-0098 or 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.