Eric Robert Schwartz of Florham Park New Jersey a stockbroker formerly registered with UBS Financial Services is the subject of a customer initiated investment related written complaint on July 3, 2019 where the customer sought $225,000.00 in damages based upon accusations of omissions and misrepresentations by Schwartz as it pertained to distributions which were required to be taken from the customer’s UBS Financial Services individual retirement account between January 2, 2018 and January 10, 2019.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Schwartz has been identified in two additional customer initiated investment related disputes containing allegations of Schwartz’s misconduct while employed with UBS Financial Services. On May 8, 2019, a customer filed an investment related arbitration claim involving Schwartz’s conduct in which the customer requested $500,000.00 in damages based upon allegations that the customer had been placed into an options overlay strategy between 2017 and 2019 that failed to be suitable for the customer. FINRA Arbitration No. 19-00636 (Apr. 8, 2019). The claim also alleges that misrepresentations had been made to the customer relating to Schwartz’s recommendations.
On May 29, 2019, a customer filed an investment related arbitration claim concerning Schwartz’s activities where the customer sought $850,000.00 in damages founded on accusations of misrepresentations concerning an options overlay strategy recommended by the stockbroker between 2017 and 2019. FINRA Arbitration No. 19-01076. According to the claim, the options overlay strategy was not appropriate and had generated undue losses for the customer.
Schwartz was employed by UBS Financial Services between February 13, 2009 and January 21, 2019. Between January 9, 2019 and March 27, 2020, Schwartz was employed by Purshe Kaplan Sterling Investments.