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Jeffrey Klotz: Suitability, Margin Complaint Against UBS Rep

Jeffrey KlotzPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 12, 2019 indicate that New York-based UBS Financial Services broker/adviser Jeffrey Klotz has received several resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Klotz (CRD# 734678).

Jeffrey Klotz has spent 37 years in the securities industry and has been registered with UBS Financial Services in New York, New York since 2008. Previous registrations include Morgan Stanley & Company in New York, New York (2007-2008); Morgan Stanley DW in New York, New York (2000-2007); Merrill Lynch in New York, New York (1993-2000); Smith Barney Shearson in New York, New York (1993); Lehman Brothers in New York, New York (1988-1993); EF Hutton & Company (1988); Prudential-Bache Securities (1984-1987); Creative Securities Corporation (1984); Moseley Hallgarten Estabrook & Weeden (1982-1984); and Ross Stebbins (1981-1982). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 20, 2007; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 5, 1985; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 31 (Futures Managed Funds Examination), which he obtained on January 12, 2005; and Series 7 (General Securities Representative Examination), which he obtained on July 18, 1981. He is a registered broker and investment adviser with 34 US states and territories.

According to his BrokerCheck report, he has received three customer complaints, one pending customer complaint, and one denied customer complaint.

In February 2019 a customer alleged Jeffrey Klotz, while employed at UBS Financial Services, placed him in an unsuitably risky investment, failed to inform him he was on margin, and “never told him how much he was losing at any time.” The customer is seeking unspecified damages in the pending complaint.

In 2009 a customer alleged Jeffrey Klotz, while employed at Morgan Stanley & Company, recommended unsuitable Lehman Brothers bonds. The complaint settled for $67,000.

In 2009 a customer alleged Jeffrey Klotz, while employed at Morgan Stanley & Company, purchased auction rate securities against their instructions. The complaint resulted in the repurchase of the securities at par value, for $200,000.

In 2009 a customer alleged he, while employed at Morgan Stanley & Company, misrepresented material facts regarding an investment in auction rate securities. The customer sought $250,000 in damages in the complaint, which was denied.

If you or someone you know has lost money investing with Jeffrey Klotz, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited by law, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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