![]() If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. ![]() However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. This even prompted the issuance of additional restrictions on brokers seeking to trade naked options in family accounts or their own, by UBS.BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment. In addition to the associate, this termination included a producing manager and a regional compliance officer. In 2018, several people on Burish’s team were terminated on grounds of a junior associate not closing out a losing trade resulting in losses to UBS. Other concerns about the team are also surfacing, related to options trading. ![]() In the comments, he had added that “These investments were suitable for the client and the client was so pleased with the return, they requested to buy more.” Other issues The claim of $1.2 million is reported as settled for $1 million.ĭescribing the clients as “highly successful, sophisticated business people who were involved in numerous high dollar projects,” Burish neither contributed to the settlement nor admitted to any wrongdoing. The case pertained to unsuitable recommendations made in 2008 regarding structured products. It has $4 billion in assets under management and is staffed with 14 members on the team.īarron’s has counted Burish as one among the top 100 advisors in all of the US while he was ranked as the top broker in the state by Forbes.īurish has just one other complaint on his BrokerCheck record dating back to 2010. The claimants have argued that “His recommendation focused on his conviction that lots of money would be made because Tesla common stock was overvalued and certain to lose its value,” and that “No balanced view of the risk of loss was provided by Burish.”īased in Madison, Wisconsin, Andrew Burish is a 38-year industry veteran who started his career with UBS in 1984 and currently leads one of the most profitable teams of UBS in the Midwest, the eponymous The Burish Group, founded in 1991. Short-selling is a strategy that seeks to profit from a decline in the price of the stock being considered. The losses, and claim, arising from the short-selling of Tesla stock that Burish has been repeatedly promoting in 20. And while true perfection isn’t possible, there are steps you can take to help your profile stand out. The other people in the family who lost money are their three children and their spouses.īoth Hansen and Simmons Perrine Moyer Bergman’s Cedar Rapids, Iowa-based lawyer Paul Gamez, who is representing the claimants, have not commented on the story. What is the perfect LinkedIn profile Ideally, it’s one that gets you noticed for all the right reasons and helps you achieve your goals - whether this means expanding your reach, finding new contacts, or getting a job offer. Hansen, along with his wife, lost the largest amount, $16.5 million. The family includes Dennis Hansen, the CEO and owner of a torque-convertor maker in New Hampton by the name of Precision and a manufacturer of automatic flushing systems for oil coolers and heat exchanges by the name of HotFlush, Inc., as gleaned from his LinkedIn profile. ![]() The claim specifies that the $23 million loss was incurred by a set of four couples who are part of an extended family and one other investor. Punitive damages and costs claimed apart from the $23 million are unspecified. ![]() In addition, UBS has been accused of failing to supervise its brokers. An arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) has asked for $23 million in damages and has accused brokerage firm UBS and its financial advisor Andrew Burish of violation of suitability guidelines of FINRA as well as breach of fiduciary duty. ![]()
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