Edward Mark Lubell (also known as Ned Lubell), of West Palm Beach, Florida, a stockbroker registered with UBS Financial Services Inc., is the subject of five customer initiated disputes. On February 9, 2022, a customer filed an investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim against UBS Financial Services, seeking $99,000.00 in damages. The allegations included unsuitable recommendations and omissions of risks in connection with the sale of structured products by Lubell. The case was settled on November 30, 2022, with UBS Financial Services agreeing to pay $25,000.00. Lubell did not contribute to the settlement. FINRA Arbitration No. 22-00096.
Another customer initiated investment related dispute was filed on February 29, 2008, alleging that UBS Financial Services misrepresented an auction rate security as a money market alternative that carried no risk. Supposedly, he failed to disclose risks in the auction rate securities market. The firm settled the matter on December 23, 2008, repurchasing the securities at par value for $1,000,000.00 as part of a global repurchase agreement.
On September 18, 2018, a different customer alleged that Lubell placed them in structured products without fully explaining their characteristics or confirming long-term investment objectives and liquidity requirements. The complaint also alleged overconcentration in certain mutual funds. The customer sought damages exceeding $5,000.00. UBS Financial Services denied the complaint on December 12, 2018.
Another customer initiated investment related complaint filed on June 26, 2002, alleged poor performance, excessive trading, failure to follow instructions, and breach of fiduciary duty while Lubell was associated with Deutsche Bank Securities Inc. The customer sought $250,000.00 in damages. The complaint was denied on August 30, 2002.
On September 30, 1998, a customer alleged that Lubell, while employed at Alex. Brown Sons Incorporated, recommended removing an option hedge, leading to a loss in the customer’s account. The claim was denied on October 14, 1998.
Lubell has been associated with UBS Financial Services Inc. since July 2002 as both as stockbroker and investment advisor representative.
