DID RANDALL ARTHUR BERNS CAUSE YOU INVESTMENT LOSSES?
About Randall Berns Of UBS Financial Services Inc.?
Randall Berns (CRD #1503704) has a substantial history in the financial services industry, marked by extensive registrations and qualifications. Currently associated with UBS Financial Services Inc. in Wayzata, Minnesota, since 2006, Berns has been registered across a significant breadth of jurisdictions, holding licenses in 42 U.S. states and territories. His exam qualifications include passing three general industry/product exams and two multi-state securities law exams, although he has not completed any principal/supervisory exams. His career trajectory shows a long-standing association with major financial firms, including a 20-year tenure with Piper Jaffray & Co. prior to his current position. Berns’ widespread registration through 10 Self-Regulatory Organizations (SROs) underscores his compliance with diverse regulatory standards and his capability to operate across multiple financial markets.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Randall Berns Customer Complaints and Reviews
Randall Arthur Berns has one customer dispute listed in his record:
- Customer Dispute (Closed – No Action): Filed on 02/12/2024, this dispute involved allegations from a client regarding delays and misrepresentations concerning a rollover, which the client claimed was mishandled between March and October 2020. The client accused Berns of opening unnecessary accounts and churning to incur fees. The total alleged damage was stated as $40,000. This complaint was ultimately denied by the firm after a review, with Berns and the firm denying any wrongdoing and stating that the actions taken were in accordance with the firm’s policy regarding the transfer of assets to a beneficiary. The case was closed with no action on 12/22/2020.
Allegations Against Randall Berns
- The following allegation was made against Randall Arthur Berns:
- From March to October 2020, a client alleged that Berns delayed a financial rollover for three and a half months and provided misleading information about capital gains, which was purportedly intended to prevent the client from transferring funds. Additionally, the client claimed that Berns opened two unnecessary accounts leading to additional fees, characterizing these actions as churning. Further, the complaint was amended to include allegations of misappropriation of funds and failure to act in the client’s best interest. The firm and Berns denied these allegations, stating that the accounts were opened under the firm policy for asset transfers and no inappropriate actions (like churning) occurred.
Randall Berns Red Flags & Your Rights As An Investor
Of course, Randall Berns did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Randall Berns at UBS Financial Services Inc. on alert to review carefully the activity and performance of their accounts and question whether Randall Berns has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at UBS Financial Services Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At UBS Financial Services Inc. Due To Randall Berns
If you have questions about UBS Financial Services Inc. and/or Randall Berns and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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