If you have suffered investment losses with stockbroker Marcus DeBaise of Glastonbury, Connecticut, you may be able to recover some of those losses through FINRA arbitration.
FINRA Disciplinary Record
According to FINRA records, Marcus DeBaise has been subject to over 11 customer disputes since 2011, many of which relate to the over-concentration of investor portfolios in equities.
Over-concentration occurs when a broker places too large a percentage of a client's investment portfolio in a single stock, sector, or asset class. This practice exposes clients to unnecessarily high risk and is generally considered unsuitable under FINRA rules.
Broker Supervision Obligations
Brokerage firms such as Wells Fargo Advisors have a legal duty to properly supervise their registered representatives. This duty includes:
- Monitoring investment recommendations for suitability
- Ensuring portfolios are appropriately diversified for each client's risk tolerance
- Reviewing and acting on customer complaints in a timely manner
- Maintaining a supervisory system designed to detect and prevent misconduct
When a brokerage firm fails to meet these obligations, both the representative and the firm may be held liable for resulting investor losses.
How to Recover Your Losses
If you invested with Marcus DeBaise and suffered losses, you may be able to recover through FINRA arbitration or securities litigation. Contact Jeff Salas at 312.803.4963 or through the contact form for a free consultation and portfolio review.