Scott Anderson Allegedly Misrepresented Policy’s Death Benefit
Scott Anderson (CRD #: 861199), a broker registered with UBS Financial Services, allegedly made misrepresentations, according to his BrokerCheck record, accessed on March 28, 2023. Keep reading if you have questions about his alleged conduct as a broker.
On January 13, 2023, a trustee filed a dispute alleging that Scott Anderson made misrepresentations and violated the suitability rule in connection with a death benefit to which the trust and its beneficiaries are entitled.
Specifically, the trustee alleged that the trust made certain decisions because Scott Anderson claimed that the death benefit would not decrease if it was deferred, which allegedly later proved to be incorrect. This misconduct allegedly took place between August 2, 2021, and March 8, 2022.
The trustee seeks $423,191.01 in damages in this pending dispute.
FINRA Rule 2020
FINRA Rule 2020 prohibits the use of deception, manipulation, and other fraudulent methods to influence the purchase and sale of securities. This includes the misrepresentation or omission of information, such as an investment’s features, risks, or fees.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. An investor’s profile contains information about their risk tolerance, age, and overall financial situation.
Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.
Scott Anderson has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Scott Anderson is a registered broker in 30 states and the District of Columbia. He is also a registered investment adviser in California and Texas.
He has also worked for Morgan Stanley DW (CRD#:7556).
Kurta Law Can Help
If you worked with Scott Anderson and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.