A recent client dispute has sparked concerns over the suitability of investments made by Dean Paugh, a broker and investment advisor with Raymond James & Associates, Inc. The client alleges that the investments made were not suitable, with activity dates ranging from January 1, 2021, to April 18, 2023. The dispute is currently pending, with the client seeking to recover a sum of $109,542.01.
Who is Dean Paugh?
Dean Paugh is a registered broker and investment advisor with Raymond James & Associates, Inc., a firm with a Central Registration Depository (CRD) number of 705. He has been associated with the firm in two different periods: from February 13, 2013, to the present, and from October 31, 2014, to the present. His areas of expertise include debt-asset backed investments, as indicated by the N1010N BrokerCheck code.
What is the Issue at Hand?
The client claims that the investments made on their behalf were not suitable. This allegation is a serious one, as it implies that the broker may have failed to consider the client’s investment objectives, risk tolerance, and financial situation before making the investments. The dispute is currently pending, with the client seeking to recover losses amounting to $109,542.01.
What is FINRA?
The Financial Industry Regulatory Authority (FINRA) is a non-governmental organization that regulates member brokerage firms and exchange markets in the United States. It is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry. More information about FINRA can be found on their official website.
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Recovering Losses with FINRA Arbitration
Investors who have suffered losses due to unsuitable investments or other forms of broker misconduct can seek to recover their losses through FINRA arbitration. This is a faster, less formal, and typically less expensive process than traditional litigation.
In a FINRA arbitration, a neutral third party, known as an arbitrator, listens to both sides of the dispute and then makes a decision. The decision of the arbitrator is final and binding, and the parties involved must abide by it. The process is confidential, and the details of the arbitration are not made public.
It’s important to note, however, that the success of a FINRA arbitration claim depends on a variety of factors, including the strength of the evidence, the skill of the legal representation, and the specifics of the case. Therefore, it’s crucial for investors to consult with an experienced securities arbitration attorney before initiating a FINRA arbitration.
Investors should also be aware that there are strict time limits for filing a FINRA arbitration claim. Therefore, if you believe you’ve been a victim of unsuitable investments or other forms of broker misconduct, it’s important to act quickly to protect your rights.