DID JOHN STEPHEN PRONOVOST CAUSE YOU INVESTMENT LOSSES?
John Stephen Pronovost with Cambridge Investment Research, Inc. Has 14 Customer Complaints For Alleged Broker Misconduct In the Past 2 Years
Who is John S. Pronovost with Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.?
John Pronovost (CRD #1990612) who is currently registered with Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. and located in Watertown, Connecticut is a subject of one of our many securities industry sales practices abuse investigations.
Prior to Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc., John Pronovost was associated with three other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.
Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. Broker Misconduct
In his career, John Pronovost has been the subject of 14 customer complaints that we know about, 3 of those complaints were filed in the last year to recover investment losses. One case went to arbitration and an award was entered against John Pronovost for $41,270 relating to an investment in LJM Preservation and Growth Fund.
Eight of John Pronovost’s 14 customer complaints were settled in favor of investors. Four of those complaints were denied by his employer and the customers thus far have not taken any further action. There is currently one pending customer complaint filed against John Pronovost’s current employers Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. for investment losses caused by his alleged misconduct.
Allegations Against John Pronovost
A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:
- Claimants allege advisor-sold them unsuitable investments.
- Clients allege the sale of LJM funds was unsuitable.
- Client’s alleged misrepresentation and suitability of a mutual fund investment.
- The client alleges the fund was misrepresented and unsuitable for her needs.
- The client alleges a mutual fund purchased in 2016 is unsuitable for his risk tolerance.
- The client alleges the financial professional recommended the purchases of 2 REITs that have lost money and that she is unable to sell the investments.
- The client alleges unauthorized sale of LJM funds was unsuitable, as well as nondisclosure of fees associated with that fund.
John Pronovost Red Flags & Your Rights As An Investor
Of course, John Pronovost 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 John Pronovost at Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. on alert to review carefully the activity and performance of their accounts and question whether John Pronovost has engaged in any stockbroker misconduct that may have caused them investment losses.
The large number of customer complaints at Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc. also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
File A Claim To Recover Your Investment Losses At Cambridge Investment Research, Inc. and Cambridge Investment Research Advisors, Inc.
If you have questions about Cambridge Investment Research, Inc., Cambridge Investment Research Advisors, Inc., and/or John Pronovost 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.
Rate this Post
Loading...