James B. Lowther
CRD#5854504
Silver Law Group is investigating Sarasota, Florida-based Merrill Lynch broker James B. Lowther following a customer complaint alleging unsuitable investment recommendations and misrepresenting an investment opportunity.
According to FINRA’s BrokerCheck report on Lowther, a complaint was received in July of 2017 alleging that Lowther had provided unsuitable investment recommendations relating to master limited partnerships and misrepresentation of material facts. This complaint alleges $300,000 in damages. This complaint is currently pending FINRA arbitration.
Lowther is currently employed by Merrill Lynch at their office in Sarasota, FL.
An unsuitable recommendation is a serious form of potential broker misconduct. A broker’s employing firm is responsible for overseeing the broker to prevent such misconduct. Failure to supervise is a claim made against a brokerage firm in these situations.
Master limited partnerships of MLP’s where popular products for financial advisors to sell during the oil boom frequently pitching them as safe and stable.
Unauthorized trading occurs when a broker facilitates a transaction without the permission of the customer in a non-discretionary account. According to FINRA, it is one of the common investor issues along with misrepresentation, cold-calling, and unsuitability.
Also, among other investment tenets, brokers are required to recommend suitable investments to their customers. This requires that the broker: Investigates and conducts due diligence into the investment’s attributes including its benefits, risks, tax consequences, and other relevant factors to form a reasonable basis for the recommendation of the product; and appropriately matches the investment with the customer’s specific investment needs and objectives, such as the customer’s retirement status, long or short-term goals, age, disability, income needs, or any other relevant factors.
When a broker or brokerage firm fails to recommend investments to its customers along those guidelines, there must be accountability. If you have lost money on an investment that did not fit your investment profile, you may be able to recover some or all of your lost money.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unsuitable investment recommendation or unauthorized trading. The Silver Law Group works on a contingency fee basis, meaning you pay us nothing unless we recover money for you.
If you invested with Merrill Lynch and James Lowther and have lost money doing so, you may be able to recover some or all of your losses. We are experienced in recovering investor losses due to broker/brokerage firm misconduct and mismanagement through FINRA arbitration.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll-free at (800) 975-4345.