The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Jeffrey Vanover. According to his publicly available FINRA BrokerCheck report, Jeffrey Vanover is the subject of a pending complaint.
Jeffrey Vanover is a Texas based securities broker. He has worked in the securities industry for fifteen years. During his career, he has been registered with three different securities firms.
His Registrations
- IDS Life Insurance Company (2004-2006)
- Ameriprise Financial Services (2004-2019)
- Hilltop Securities (2019-Present)
The Allegations
In December 2019, customers alleged that Jeffrey Vanover provided them poor advice regarding an equity security, option contracts related to that security, and another security sold to cover margin debt. This case is currently pending. The customers are seeking $800,000 in damages.
What Does This Mean?
Securities brokers have an obligation to their customers to only recommend investments that they (the customers) are financially suited for. Brokers can determine this suitability through multiple factors. These factors include; the customer’s investment objectives, financial situation, annual income, risk tolerance, liquidity needs, and age. The allegations described above paint the picture of a securities broker making recommendations to his customers that were unsuitable based on these factors.
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 Jeffrey Vanover, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.
