In a recent development, John Doiron, currently registered as a broker or investment advisor Cabot Lodge Securities LLC, has received a complaint from a customer alleging that there have been multiple violations. The complaint is about the purchase of GWG L-Bonds 2021 and the claimant seeks damages totaling $50,000.
The claimant asserts that John Doiron violated his fiduciary responsibility and was negligent as an investment adviser. Allegations include negligent misrepresentation as well as breach of contract and failure to supervise. The complaint details a violation Regulation Best Interest. Regulation Best Interest is a rule created by the SEC that ensures brokers act in clients’ best interests.
John Doiron’s Professional Background
John Doiron is registered with Cabot Lodge Securities LLC since June 2013. He has also been affiliated with CL Wealth Management LLCHe has been working as a broker at since May 2012. In addition to his role as a broker, investment advisor and private investor, he also has a background in real estate. This recent complaint raises questions about his professionalism despite his vast experience in the financial sector.
The dispute centers on the purchase GWG L-Bonds. GWG Holdings is a company which invests in insurance policies. The high risk level associated with these bonds has led to a lot of scrutiny. They are illiquid, and difficult to sell because they are not traded at any public exchange. They are therefore unsuitable to many investors, especially those who have a low tolerance for risk.
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Investors’ Recourse : FINRA Arbitration
Investors who suffered losses because of broker negligence or misconduct have a possible avenue to recovery: FINRA Arbitration. Investors can submit claims against brokers or broker-dealers through the Financial Industry Regulatory Authority’s (FINRA) arbitration platform.
- Arbitration by FINRA It is usually faster and cheaper than court litigation.
- This allows investors to make their case in front of a panel composed of experienced securities lawyers.
- Arbitration is a confidential process, which can benefit investors who prefer to remain anonymous.
- In most cases, the broker is required to promptly pay any damages if the arbitrators find in favor of an investor.
Affected investors may want to pursue a FINRA arbitral claim in light of the allegations made against John Doiron and Cabot lodge Securities LLC. However, it’s important to work with an experienced securities arbitration attorney who can help you navigate the complex process and maximize your recovery chances.
Every investor has a right to receive competent and ethical advice. There are options available if the standard isn’t met.