George William Cole, of Toms River, New Jersey, a stockbroker currently registered with Next Financial Group, has been named in a customer initiated, investment related arbitration claim in which the customer requested $1,000,000.00 in damages based upon allegations that Cole provided customers with unsuitable investment recommendations which caused the customers to suffer substantial losses.
The claim arises from the introduction of the customer to the Foster & Dunhill Group in the Bahamas. Other than make the introduction, or invite the customers to attend an off-shore seminar. It would appear that the matter is still pending.
Brokerage firms can be held responsible for the failure to conduct due diligence or the recommendation of inappropriate or unsuitable third party investment managers.
FINRA Public Disclosure also reveals that on October 18, 2009, a customer initiated investment related arbitration claim involving Cole’s conduct was resolved for $34,000.00 in damages based upon allegations that Cole switched the customer’s investment account without the customer’s requisite authorization.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
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