The White Law Group is currently representing two former UBS financial advisors in a litigation matter involving their alleged promissory note obligation to UBS. Based on our preliminary investigation, it appears that these particular financial advisors were forced to leave UBS because UBS did away with a trading program that was critical to their business and that the platform’s elimination greatly impacted their ability to effectively service their clients.
Notwithstanding the fact that these financial advisors were basically forced to leave UBS and their business has suffered as a result, UBS has sent the advisors a demand letter for the amounts they owe on their promissory note agreements and has indicated that they intend to file claims against these financial advisors for breach of contract if the matters are not quickly resolved.
We are investigating whether other UBS financial advisors were similarly forced to leave the firm as a result of the elimination of any trading platforms. Such information would assist us in demonstrating that UBS’s failure to provide these financial advisors with the necessary trading platform to conduct their business was a firm wide issue that impacted many financial advisors.
If you have any information that would assist us in our investigation, please contact our Chicago, Illinois office at 312-238-9650.
The White Law Group is a national securities litigation law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm is intimately familiar with the unique issues involved in promissory note cases, often representing financial advisors in promissory note litigation matters, and having (in the past) handled promissory note litigation cases on behalf of many of the larger broker-dealers (including Banc of America Investment Services, Morgan Stanley Smith Barney, Wells Fargo, Wachovia, and Ameriprise).
For more information on the firm, please visit our website at https://whitesecuritieslaw.com.Tags: Ameriprise, BAI, Banc of America, Boca Raton, breach of contract, broker promissory note litigation, Chicago, financial advisor promissory note litigation, FINRA, Florida, Forgivable Loan, forgivable loan litigation, Illinois, misrepresentation, Morgan Stanley, NASD, Prom Note, Promissory Note, SEC, securities arbitration, Securities Attorney, Smith Barney, trading platform, UBS, Wachovia, Wells Fargo Last modified: July 17, 2015