The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Lewis Robinson. According to his publicly available FINRA BrokerCheck report, Lewis Robinson has been the subject of multiple customer complaints over the course of his career.
Lewis Robinson is a Florida based securities broker. He has worked in the securities industry for thirty-two years. During his career, he has been registered with five different securities firms.
His Registrations
- Thomson McKinnon Securities (1987-1989)
- Prudential Securities Incorporated (1989-2000)
- UBS Financial Services (2000-2009)
- Morgan Stanley (2009-2015)
- BB&T Securities (2016-Present)
The Allegations
- In June 2004, a customer alleged that Lewis Robinson executed inappropriate and unauthorized trades. This case was settled for $20,000 in damages.
- In September 2015, a customer alleged that Lewis Robinson provided him with inaccurate statement summaries. These alleged summaries exaggerated the yields of his investments. The customer also alleged that Robinson liquidated securities in his IRA account without authorization. This case was settled for $95,000 in damages.
- In October 2015, a customer alleged that Lewis Robinson failed to follow instructions. This case was settled for $4,400 in damages.
- In November 2015, a customer alleged that Lewis Robinson recommended unsuitable investments. This case was settled for $54,000 in damages.
- In March 2016, another customer alleged that Lewis Robinson recommended unsuitable investments. This case was settled for $8,000 in damages.
- In July 2016, yet another customer alleged that Lewis Robinson recommended unsuitable investments. This case went to arbitration where the customer was awarded $29,060 in damages.
What Does This Mean?
The most important aspect of a securities broker’s job is the ability to recommend investments that are actually suitable for their customers. Brokers who are unable to do this lack the ability to perform their job to the required standard. Brokers can determine if a particular investment is suitable for their customer by analyzing different factors. These factors include the customer’s age, investment objectives, risk tolerance, liquidity needs, and financial situation. Some brokers who place their customers in investments they are not financially suited for do so by accident through their own negligence. However, other brokers ignore this crucial information and place their customers in investments they (the customer) are not at all suited for, but are very self-serving to them (the broker).
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 Lewis Robinson, 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.
