Bakhtiari & Harrison are investigating Sam Schoner (CRD# 1928356) of First Republic Securities Company and JP Morgan Private Wealth Advisors LLC in connection with customer complaints alleging damages due to unsuitable investment recommendations and/or investor concentration in First Republic Bank preferred stock.
Investors who suffered losses with Sam Schoner and/or any other advisor at First Republic Securities Company are encouraged to contact us for a free consultation to discuss recovery options.
Sam Schoner: Two Complaints Alleging $2,500,000 and $7,498,468 for Recommendations in First Republic Bank Preferred Stock
According to FINRA BrokerCheck, Sam Schoner has two disclosed customer complaints. The pending complaints allege $2,500,000 and $7,498,468 in damages due to unsuitable investment recommendations in First Republic Bank preferred stock.
Sam Schoner was registered as a broker with First Republic Securities Company and as an investment advisor with First Republic Investment Management in San Francisco, CA, from 2001 to 2023 and 2004 to 2010 respectively. Sam Schoner is currently registered with
JP Morgan Private Wealth Advisors LLC in San Francisco, CA.
Understanding Regulation Best Interest (“Reg BI”)
SEC Regulation Best Interest (Reg BI) establishes a “best interest” standard for brokers and brokerage firms recommending securities investments and strategies to their customers, under the Securities Exchange Act of 1934. Investment advisors and their firms must make recommendations based on the client’s personal needs and preferences.
How Can Investors Recover Their Losses?
Brokers and financial advisors must consider investment risks and ensure they do not misrepresent or omit material facts to their customers. They must also respect a customer’s risk tolerance when making investment recommendations. These violations can form the basis for liability in a FINRA arbitration claim. FINRA arbitration is often a more cost-effective and efficient process for investors compared to court proceedings.
Engaging seasoned securities attorneys can make a significant difference in protecting your investments and ensuring your interests are adequately represented. If you believe you have a case or need expert advice, contact Bakhtiari & Harrison at www.bhseclaw.com to discuss your situation and explore your legal options.