Edward Cohen, Financial Advisor, allegedly recommends unsuitable investments
A recent investor complaint alleges that Edward Cohen, a financial advisor in Bal Harbour, Florida, recommended an unsuitable purchase. The complaint was filed in October 2023. It claims that Cohen, a Truist Investment Services broker and Truist Advisory Services investment advisor, recommended the investor invest in a Guaranteed income contract, which had been deemed unsuitable. The complaint filed in October 2023 seeks damages of more than $5,000.
Edward Cohen is described by some as an “International Wealth & Investment Advisor” Truist Investment Services has a website. This profile highlights his work in providing highly customized and comprehensive financial solutions to high net worth families and companies outside of the U.S. The profile highlights Cohen’s commitment to recommend strategies that are aligned with the needs and goals of his clients, supported by expertise from his team and his attentive customer service.
Cohen has 19 years experience in the securities sector. Since 2007, he is a Truist Investment Services Broker and a Truist Advisory Services Investment Advisor. He has previously been registered with SunTrust Investment Services and Princor Financial Services Corporation. MetLife Securities, Foresters Equity Services and Metropolitan Life Insurance Company are also on his list. Cohen passed four securities industry qualification exams and has been licensed in California. Florida, Georgia, Tennessee, and Georgia.
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Understanding the Allegations
The complaint filed by Edward Cohen against an investor raises questions about the suitability and the investment that he recommended. The financial industry has made suitability a core principle. Advisors must recommend investments that are aligned with the client’s investment goals, risk tolerance and financial situation. Unsuitable investments are those that may not be suitable for an investor.
Investors can suffer significant losses if they make unsuitable investments. If an investor makes a risky investment or one that doesn’t match their goals, they may not receive the expected returns or suffer substantial losses. Financial advisors have a responsibility to assess the needs of their clients and make appropriate investment recommendations.
Investors who suffer losses because of unsuitable investments have legal recourse. The Financial Industry Regulatory Authority, or FINRA, is a regulatory body that can help investors seek compensation for losses. Investors must be aware of any red flags, which could indicate that a recommendation is not suitable for them. This includes high-risk investment for conservative investors, or an investment that does not match their stated goals.
The conclusion of the article is:
The complaint filed by an investor against Edward Cohen raises questions about the suitability and appropriateness of a particular investment that he recommended. When making investment recommendations, advisors need to prioritize their client’s needs and goals. Investors who suffered losses because of unsuitable investments can pursue compensation. Legal representation by a law firm that specializes in investor claims is a good way to protect the rights of investors and ensure fair treatment.