DID ZACARY TAYLOR LYMAN CAUSE YOU INVESTMENT LOSSES?
About Zachary Lyman of Creative Planning?
Zachary Lyman (CRD #6802647) , located in Overland Park, Kansas, has a diverse professional background, working in investment advising since 2018. He is currently registered in Kansas and Texas as an investment adviser representative and holds the designation of Certified Financial Planner (CFP). His employment history includes roles at Creative Planning, LLC since 2017 and prior experience as a tax associate with KPMG and a legal intern.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Zachary Lyman Customer Complaints and Reviews
Zachary Taylor Lyman has one reported disclosure event involving a customer dispute. Details of the incident are as follows:
- Customer Dispute Filed June 21, 2024:
- Allegations: The dispute includes claims of breach of contract, breach of fiduciary duty, and violation of the Kansas Consumer Protection Act regarding a Roth conversion in 2023.
- Jurisdiction: District Court of Johnson County, Kansas, Civil Court Division.
- Status: Pending as of the report date.
- Alleged Damages: No specific monetary damages were listed.
Allegations Against Zachary Lyman
The customer dispute, while pending, raises allegations of a breach of contract and fiduciary responsibility. Details worth noting:
- The allegations are tied to a Roth conversion strategy undertaken in 2023, with claims under consumer protection regulations.
- The firm’s defense emphasizes compliance with the claimant’s best interests.
- As of now, no resolution or adjudication has occurred, and there is no indication of monetary settlement being pursued.
Zachary Lyman Employment History and Licenses
- Current Employment: Investment Adviser Representative at Creative Planning, LLC, Overland Park, Kansas, since May 2017.
- Previous Roles: Tax Associate at KPMG (2015–2017) and student/legal intern positions before that.
- Registrations: Active in Kansas since October 2018 and in Texas since September 2023.
- Professional Designations: Certified Financial Planner (CFP), reflecting expertise in comprehensive financial planning.
- Examinations: No specific exam results or waivers were reported, though registration was achieved through experience and qualifications.
Investment Advisors Owe Clients The Highest Level Of Care
Investment advisors have a fiduciary duty to act in the best interest of their clients, placing the client’s interests above their own. This includes providing full disclosure about nature, mechanics, and risks of any recommended investment strategies or activities. Advisors must ensure that clients understand the potential outcomes, costs, and risks associated with investments, enabling them to make informed decisions. The duty of care requires advisors to exercise skill, diligence, and prudence in managing client portfolios, ensuring that recommendations are suitable for each client’s specific financial goals, risk tolerance, and circumstances. This fiduciary responsibility is essential in maintaining trust and ensuring the advisor’s decisions prioritize the client’s needs.
Option Trading Can Be Extremely Risky
Option trading can be highly risky, particularly when it involves complex strategies or high leverage. Options give investors the right, but not the obligation, to buy or sell an underlying asset at a predetermined price within a set period. While options can be used to hedge risks, they can also amplify losses, especially for inexperienced investors. Investment advisors who engage in options trading on behalf of clients must carefully consider the client’s risk tolerance and ensure they fully understand the potential outcomes.
More risky options strategies, such as naked calls or puts, involve selling options without holding the underlying asset. This exposes the investor to unlimited losses if the market moves unfavorably. For example, in a naked call strategy, an advisor sells a call option without owning the underlying stock. If the stock price rises significantly, the client could face substantial losses, as they would be obligated to buy the stock at a much higher price. Due to these risks, it’s crucial for advisors to fully explain the strategy and its potential consequences before engaging in such transactions.
Zachary Lyman Red Flags & Your Rights As An Investor
Of course, Zachary Lyman 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 Creative Planning on alert to review carefully the activity and performance of their accounts and question whether Zachary Lymanhas engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Creative Planning 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 Creative Planning Due To Zachary Lyman
If you have questions about about Creative Planning and/or Zachary Lyman 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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