John Saunders Embroiled in $400,000 Investor Dispute

John Saunders (CRD #: 870131), a broker registered with UBS Financial Services, is facing his fifth investor dispute, according to his BrokerCheck record, accessed on July 28, 2023. The investor is seeking six figures. Keep reading for more details. 

On May 11, 2023, an investor alleged that John Saunders recommended unsuitable investment products that did not suit their liquidity needs. The investor is seeking to recover $400,000. 

According to allegations dated June 28, 2017, an investor alleged that John Saunders mismanaged their account and gave them incorrect/faulty information over a period of three years. They alleged they used this faulty information to make major financial decisions.

There are three other investor disputes on his record. 

FINRA Rule 2111 – Suitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s liquidity needs. Investments must also fit the investor’s age, risk tolerance, and financial goals. Unsuitable investment recommendations are the subject of many investor disputes. Investors who rely on brokers for investment recommendations may be able to recover their losses from unsuitable investments via FINRA arbitration. 

Background Information 

John Saunders has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 1 Registered Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 39 states and D.C. He is also a registered investment adviser in Texas and Virginia. 

John Saunders has registered with the following firms: 

• CitiGroup Global Markets (CRD #: 7059) 
• Legg Mason Wood Walker (CRD #: 6555)
• T. Rowe Price Investment Services (CRD #: 8348) 
• Pruco Securities (CRD #: 5685) 
• Fidelity Distributors Corporation (CRD #: 6848) 

Kurta Law Can Help

If you worked with John Saunders 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.