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Francisco Landivar Racks Up 28th Investor Dispute

Dec 14, 2021 Investor Disputes

Francisco Landivar (CRD #:2784555), a registered broker with UBS Financial Services, is involved in his 28th investor dispute, according to his BrokerCheck record, accessed on November 11, 2021. Keep reading for more details. 

Puerto Rico Securities 

Puerto Rico's financial woes have been well-documented. The US territory has a national debt of $74 billion, but because it is not a U.S state, Puerto Rico cannot file bankruptcy. Investors should be aware that there are significant risks associated with investing in any financial products based in Puerto Rico. 

What is an Unsuitable Investment?  

It's important that the investment recommendations of a financial advisor match the investor’s profile. FINRA Rule 2111 has specific rules for determining this match. Investors determine suitability by reviewing an investor's individual profile which includes information such as the investor’s risk tolerance and goals.  

Investor Disputes: 2021 

On August 18, 2021, investors alleged that Francisco Landivar recommended that they invest in and hold unsuitable Puerto Rico closed-end funds. (Closed-end funds are mutual funds that offer a fixed number of shares through a single IPO.) The investor alleged that these funds were unsuitable, over-concentrated and that Francisco Landivar misrepresented the risks of Puerto Rico-based investments. The damage amount requested is $500,000. The case is still pending. 

Investor Disputes: 2020 

One investor dispute alleges that Francisco Landivar recommended unsuitable Puerto Rico securities. The damage amount requested is $650,000. The dispute is still pending. 

Pending Investor Disputes: 2019 

There are three pending investor disputes from 2019 that alleged Francisco Landivar recommended unsuitable Puerto Rico securities. Investors also alleged that he over-concentrated Puerto Rico securities in their portfolios and misrepresented their risks. The total damage amount requested is $1,563,408.00. 

Settled Investor Disputes: 2019 

There are eight settled investor disputes from 2019 that alleged Francisco Landivar recommended unsuitable Puerto Rico securities. The disputes collectively settled for $804,000 — the largest dispute settled for $250,000. 

Settled Investor Disputes: 2016 - 2018 

There are eight settled investor disputes from 2016 - 2018 that alleged Francisco Landivar recommended unsuitable Puerto Rico securities. The disputes collectively settled for $1,782,000 — the largest dispute settled for $775,000. 

Settled Investor Disputes: 2014 - 2015 

There are six settled investor disputes from 2016 - 2018 that alleged Francisco Landivar recommended unsuitable closed-end funds. The investors also alleged the closed-end funds were over-concentrated and the risks misrepresented. The disputes collectively settled for $1,325,059 — the largest dispute settled for $1,100,000. 

Background Information 

Francisco Landivar has passed the following exams: 

  • Series 66 - Uniform Combined State Law Examination 
  • SIE - Securities Industry Essentials Examination  
  • Series 7 - General Securities Representative Examination 

Francisco Landivar is a registered broker in 24 states. He is also an investment advisor in Puerto Rico and Texas.  

Besides UBS Financial Services, Francisco Landivar has worked with:  

  • UBS Financial Services Incorporated of Puerto Rico (CRD#:13042) 

Kurta Law Can Help 

If you have suffered losses after working with Franciso Landivar, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors. 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. Reach out today to start the process to recover your investment losses.