The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Jay Wallinger. According to his publicly available FINRA BrokerCheck report, Jay Wallinger has been the subject of a customer dispute.

Jay Wallinger is a Nebraska based securities broker. He has worked in the securities industry for twenty-four years. During his career, he has been registered with three different securities firms.

His Registrations

  • VSR Financial Services (1993-2016)
  • Summit Brokerage Services (2016-2019)
  • Securities America (2019-Present)

The Allegations

In March 2017, a customer alleged that Jay Wallinger recommended unsuitable investments and over-concentrated their account in said investments. This case was settled for $330,000 in damages.

What Does This Mean?

Investors who have been invested in securities they are not financially suited for can experience serious financial harm. Most investors do not have the ability to invest suitably on their own. This is why so many investors rely so heavily on their securities brokers to recommend investments that are actually suitable for them. Brokers like Jay Wallinger can determine suitability by analyzing factors like their customer’s financial situation, liquidity needs, and investment objectives.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker negligence and/or fraud. 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 Jay Wallinger, please contact Oakes & Fosher for a free and private consultation.