Sean McCabe Facing Investor Disputes Alleging Unsuitable Investments
Sean McCabe (CRD #: 5479643), a broker registered with Network 1 Financial Securities in Hauppage, NY, is facing a new investor dispute, according to his BrokerCheck record, accessed on September 28, 2021. This dispute features similar allegations as the five other settled disputes on his record.
On July 13, 2021, an investor alleged that Sean McCabe recommended investments that were both quantitatively and qualitatively unsuitable.
- Quantitively unsuitable investments mean that the broker executed an excessive number of transactions, incurring too many fees for the portfolio to generate a return for the investor.
- Qualitatively unsuitable investments are investments that do not meet criteria specific to the investor, including their risk tolerance and financial goals.
The investor is seeking $330,113; the dispute is pending.
Settled Investor Disputes
There are five settled disputes on Sean McCabe’s record. These disputes allege that he recommended unsuitable investments and engaged in negligence when he recommended certain securities. These disputes were collectively settled for $337,000.
Sean McCabe has a denied dispute on his record that alleges he executed inappropriate trades. Investors should know that firms can deny a dispute without any kind of third-party review. Denials simply mean that the firm denies their representative engaged in misconduct. Investors can still recover losses following a denial.
Sean McCabe Background Information
Sean McCabe has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He is a registered broker in 28 states.
Sean McCabe has worked for the following firms:
- Network 1 Financial Securities (CRD #: 13577)
- Worden Capital Management (CRD #: 148366)
- Four Points Capital Partners (CRD #: 43149)
- National Securities Corporation (CRD #: 7569)
- Woodstock Financial Group (CRD #: 38095)
Kurta Law Can Help
If you worked with Sean McCabe and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email email@example.com.