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

Joseph Zenker is a Tennessee based securities broker. He has worked in the securities industry for twenty-four years. During his career, he has been registered with five different securities firms

His Registrations

  • NYLIFE Securities (1996-1999)
  • The Equitable Life Assurance Society of the United States (1999-2000)
  • AXA Advisors (1999-2001)
  • Citigroup Global Markets (2001-2009)
  • Raymond James (2009-Present)

The Allegations

  • In November 2010, customers alleged that Joseph Zenker breached his fiduciary duty, recommended unsuitable investments, made material misrepresentations and omissions, violated the Louisiana Securities Act, and violated FINRA rules. This case went to arbitration where the customer was awarded $12,500 in damages.
  • In May 2016, a customer alleged that Joseph Zenker breached his fiduciary duty, violated NASD and FINRA rules, managed their account negligently, and breached contract. This case was settled for $235,000 in damages.
  • In June 2017, a customer alleged that Joseph Zenker breached his fiduciary duty, violated NASD and FINRA rules, managed their account negligently, and breached contract. This case was settled for $130,000 in damages.

What Does This Mean?

Securities brokers are a brand of financial advisor known as fiduciaries. These individuals have what is known as a fiduciary duty to always act in their customers’ best financial interests. This encompasses all manner of things that include choosing investments that are beneficial to the customer, disclosing all information correctly, and executing trades at a suitable frequency. Brokers who breach this duty erode the trust that exists between investors and brokers. This trust is necessary for the professional relationship to even exist.

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 Joseph Zenker, 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.