The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Adam Fetterman. According to his publicly available FINRA BrokerCheck report, Adam Fetterman has been the subject of multiple customer disputes over the course of his career.

Adam Fetterman is a Florida based securities broker. He has worked in the securities industry for twenty-eight years. During his career, he has been registered with eight different securities firms.

His Registrations

  • MetLife Securities (1991-1992)
  • Metropolitan Life Insurance Company (1991-1992)
  • First Miami Securities (1992-1997)
  • Painewebber Incorporated (1997-2000)
  • Salomon Smith Barney (2000)
  • Prudential Securities Incorporated (2000-2003)
  • Wachovia Securities (2003-2008)
  • UBS Financial Services (2008-Present)

The Allegations

  • In January 2009, a customer alleged that Adam Fetterman exposed their account to an amount of risk that was contrary to their conservative investment objectives.
  • In December 2017, a customer’s power of attorney alleged that their was incorrect information on the customer’s account profile regarding her annual income. The customer’s power of attorney alleged that this led to Fetterman placing her into high risk investments contrary to her financial needs which forced her into margin loans to supper her spending.

What Does This Mean?

Securities brokers obtain information about their customers before they begin executing trades on their behalf. This information includes crucial details such as their net worth, debt, investment objectives, annual income, liquidity needs, risk tolerance, and more. Brokers are then supposed to use this information to determine how they should invest their new customer’s money. Some less than scrupulous securities brokers might ignore this information and invest their customers in securities that are contrary to their needs. Investors can experience serious financial losses as a result of this action.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Adam Fetterman, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.