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

John Saunders is a Virginia based securities broker. He has worked in the securities industry for twenty-six years. During his career, he has been registered with six different securities firms.

His Registrations

  • Fidelity Distributors Corporation (1979-1981, 1984-1989)
  • Pruco Securities (1998-2001)
  • T.Rowe Price Investment Services (2001-2002)
  • Legg Mason Wood Walker, Incorporated (2004-2006)
  • Citigroup Global Markets (2006-2007)
  • UBS Financial Services (2007-Present)

The Allegations

  • In February 2012, customers alleged John Saunders failed to properly allocate and diversify their accounts. The alleged transgressions taking place between 2007 and 2011. This case was settled for $75,000 in damages.
  • In July 2014, a customer alleged that John Saunders failed to follow her instructions to liquidate her entire position. This case was settled for $100,000 in damages.
  • In June 2017, a customer alleged that their account had been mismanaged by John Saunders between April 2014 and May 2017. They also alleged that Saunders had given them inaccurate information over that three year period. The customer then based a lot of their major financial decisions in that period on this alleged misinformation. This case was settled for $36,747 in damages.

What Does This Mean?

One of the most noteworthy allegations levied against John Saunders was that he failed to diversify investments in his customers’ accounts. Portfolio diversification is incredibly crucial to an investor’s financial success. Investors who have their accounts concentrated in a singular security run the risk of losing everything if that one security fails. Their entire potential success or failure is dependent upon one investment. When an investor’s portfolio is adequately diversified, they will not lose everything if one of the securities falters.

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 John Saunders, please contact Oakes & Fosher for a free and private consultation.