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Gary Menzer, Esq. is a Founding Partner with The Securities Law Firm of Menzer & Hill, P.A. The Firm represents aggrieved investors that have sustained investment losses due to the negligence of their stock broker or financial advisor and the failure to supervise by their Broker-Dealer. The... More
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Menzer & HIll, P.A.
  • JP Morgan  0 comments
    Jun 20, 2013 1:22 PM | about stocks: JPM

    A former Broker of JP Morgan recently filed an arbitration claim alleging the Firm pushed its advisors to sell proprietary products even when there were better alternative products available to its customers.

    The complaint alleges that commissions were withheld and obstacles were put in place to prevent JP Morgan advisors from soliciting non-proprietary products.

    According to The Securities Law Firm of Menzer & Hill, P.A., it's nothing new for Broker-Dealers to push their own products on the sales force as the profit margins are significantly higher for the Broker-Dealer.

    With that said, many investors that incurred losses in JP Morgan proprietary products may have a valid arbitration claim against the Firm if they sustained losses as the Firm and the Brokers have a duty to do what's best for the client.

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