Articles Tagged with jw cole

Chicago-based Stoltmann Law Offices has represented investors who’ve suffered losses in the LJM Preservation and Growth Fund. When broker-dealers sell you investments, they are responsible for fully informing you of the risks at the point of sale. When they fail to give you an honest, transparent disclosure on what they are selling – and the investments tank — you may have an arbitration case that you can pursue to get your money back.

Cambridge Investment Research, Merrill Lynch, and other brokerage firms sold a mutual fund called the LJM Preservation and Growth fund to their customers. The fund’s “value plummeted 80% over two days in early February 2018, after brokers in the previous two years sold $18 million of its shares to more than 550 customers, prompted by sales calls in May 2016 from an LJM wholesaler,” the securities regulator FINRA stated. “The fund was liquidated and dissolved in March 2018.”

What made the fund so volatile that led to its demise? It employed a risky strategy called “uncovered options,” but failed to tell investors that it was a highly complex vehicle prone to catastrophic losses.

AdobeStock_33766885-1-300x200According to the Financial Industry Regulatory Authority (FINRA), Gary Rasmussen allegedly engaged in securities law violations, and Stoltmann Law Offices continues to investigate him and his former firm, J.W. Cole Financial. Allegedly Rasmussen recommended investment products that were unsuitable and and highly risky. He also was accused of failure to properly supervise, breach of fiduciary duty, and lack of due diligence in an investment. A broker must have a reasonable basis for recommending the product or security based on the broker’s investigation of the investment properties including its benefits, risks, tax consequences, and other relevant factors. If he does not, his brokerage firm can be held liable for losses. Please call our Chicago-based law firm today if you suffered losses with Mr. Rasmussen and would like information from an attorney about how to recover your losses on a contingency fee basis.
Gary Kenneth Rasmussen was registered with Dean Witter, White, Weld & Co., Crowell, Weedon & Co., Spelman & Co., Girard Securities, Financial Advsiers of America and J.W. Cole in Laguna Niguel, California from May 2013 until October 2016. He has four customer disputes against him, one of which is currently pending. He is currently not registered within the industry, according to his online BrokerCheck report with FINRA.

AdobeStock_35532974-1-300x200Stoltmann Law Offices is interested in hearing from those investors who may have suffered losses with Gary Rasmussen, a former broker with J.W. Cole Financial. Rasmussen was accused of engaging in securities law violations including making unsuitable investment recommendations and investments in a client’s account. He also allegedly recommended investment products that were unsuitable and highly risky. He also allegedly violated state and federal securities laws such as failure to properly supervise, breach of fiduciary duty and lack of due diligence in an investment. These are all against securities laws, and J.W. Cole can be held liable for these losses in the arbitration forum on a contingency fee basis. The firm had a duty to reasonably supervise Mr. Rasmussen, and, because it did not, can be held responsible. To find out how to sue the firm in the Financial Industry Regulatory Authority (FINRA) arbitration forum, attorneys are standing by at our Chicago-based law offices to take your call. There is no cost or obligation with the call, so please call today.
Gary Rasmussen was previously registered with Dean Witter, White, Weld & Co., Crowell, Weedon & Co., Spelman & Co., Girard Securities, Financial Advisers of America and J.W. Cole Financial in Laguna Niguel, California from May 2013 until October 2016. He has four customer disputes against him, one of which is currently pending. According to his FINRA BrokerCheck report, he is not currently registered within the industry.

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