Ford Poston Allegedly Failed to Explain Risks of Mutual Fund Bonds
Ford Poston (CRD #: 5309386), a broker registered with UBS Financial Services, allegedly failed to fully inform clients about risk, according to his BrokerCheck record, accessed on June 28, 2023. Keep reading if you have questions about his alleged conduct as a broker.
Investor Dispute
On April 5, 2023, an individual with power of attorney over two clients, his parents, alleged that Ford Poston failed to explain the structure and risks associated with mutual fund bonds as compared to other bonds.
He further alleged that Ford Poston was informed that the clients did not want to take on any risk with their investments. This misconduct allegedly occurred between January 4, 2021, and December 30, 2022.
The dispute sought $252,076.82 but was denied by the firm.
Investors should know, however, that firms don’t need to allow an outside review before denying a dispute. Investors can still seek out FINRA arbitration and may be able to recover their funds after a denial.
FINRA Rule 2020
FINRA Rule 2020 forbids the use of manipulative, deceptive, or otherwise fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of information related to investments, such as their risks, fees, or limitations.
Background Information
Ford Poston has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Ford Poston is a registered broker in 17 states and the District of Columbia. He is also a registered investment adviser in Texas, Utah, and Washington.
He has also worked for Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).
Kurta Law Can Help
If you worked with Ford Poston 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.