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

Omar Henry was a New York-based securities broker. He worked in the securities industry for six years. During his career, he was registered with three different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Chase Investment Services Corp. (2010-2012)
  • J.P. Morgan Securities (2012-2015)
  • Cetera Advisors (2015-2016)

The Allegations

In April 2018, a customer alleged that Omar Henry recommended unsuitable investments. This case is currently pending. The customer is seeking $451,844 in damages.

What Does This Mean?

Securities brokers have an obligation to their customers to always act in their best financial interests. The main part of that means recommending investments that they (the investors) are actually suited for. When an investor is placed into an investment that they are not financially suited for, they can experience serious financial loss. Securities brokers, like Omar Henry, can determine if an investment is suitable for their customer by analyzing multiple present factors. These factors include the customer’s age, investment objectives, financial situation, risk tolerance, and liquidity needs. Brokers are expected to determine suitability by looking at these factors. They are not allowed to excuse themselves when things go awry by claiming they were unaware an investment was unsuitable. Brokers either know, or should know, if an investment will be financially harmful to their customer.

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 Omar Henry, 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.