Yield Enhancement Strategy

UBS YES Strategy Customers Of Broker Jason Dworak Awarded Over $1M

Published on: March 10, 2021 | by Shepherd Smith Edwards & Kantas, LLP

Lincoln, Nebraska Stockbroker Named In Multiple Six-Figure Options Overlay Claims

A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded two claimants over $1M in their UBS Yield Enhancement Strategy (YES) claim against respondent UBS Financial Services (UBS).

Their broker, Jason Mathew Dworak, was not a respondent in the customer dispute. However, according to the FINRA award, the panel did not grant the broker-dealer’s request that the case be expunged from his CRD records. Dworak also is named in other pending options overlay claims involving UBS YES.

UBS YES Strategy Customers of Broker Eric Wittenberg Are Seeking at Least $1.8M in Damages

Published on: November 5, 2020 | by Shepherd Smith Edwards & Kantas, LLP

New York Stockbroker and Investment Advisor is Accused of Misrepresentations and Unsuitability

Eric Andrew Wittenberg, a managing director and private wealth advisor at UBS Group AG (UBS) in the New York metropolitan area, is being blamed by a number of the firm’s customers for investment losses they suffered after he recommended the UBS Yield Enhancement Strategy (YES) to them.

Wittenberg is one of many UBS registered representatives named in Financial Industry Regulatory Authority (FINRA) arbitration claims over this program.

Investors Blame UBS Broker and Edinroc Financial Group Head Jose Cornide For Recommending YES Strategy

Published on: October 28, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Florida Financial Advisor is Named in at Least 10 FINRA Cases, Including One $25 Million Claim

If you suffered losses while working with UBS Financial Services (UBS) stockbroker, Jose Manuel Cornide, Jr., you may be able to file a Financial Industry Regulatory Authority (FINRA) arbitration claim for your losses. Cornide, who is based out of Coral Gables in South Florida, is the head of Edinroc Financial Group, which is a UBS private wealth management group.

Jose Cornide is named in multiple FINRA arbitration cases brought by customers for losses they suffered from the firm’s Yield Enhancement Strategy (YES Strategy). They are just some of the UBS clients who were sold on what was supposed to be a low-risk trading strategy that would allow them to earn enhanced yield. Instead, many of these UBS customers are now contending with significant losses.

Ex-UBS Broker and IHT Wealth Management Investment Advisor Frederick Kort Accused Of Unsuitable Investment Recommendations Involving Options Overlay Strategy

Published on: September 15, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Pending Allegations Likely Involve UBS YES Strategy

Frederick Maximillian Kort, a former UBS Financial (UBS) broker, is facing allegations that he made misrepresentations when making unsuitable investment recommendations to customers.

According to his BrokerCheck record, there are two pending customer disputes against him, both involving an options overlay strategy. While the disclosure does not specifically state so, this is likely UBS’s Yield Enhancement Strategy, in which many of the firm’s registered representatives have come under fire for selling to investors.

Dallas Retiree Accuses UBS Of Unsuitably Recommending YES Strategy

Published on: September 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Senior Investor Sues UBS Financial For Losses Caused by Yield Enhancement Strategy

A Texas retiree says UBS’s Yield Enhancement Strategy (“YES”) is to blame for investment losses he suffered over a short time period at the end of 2018. According to the claim filed with the Financial Industry Regulatory Authority (“FINRA”), the YES program was unsuitably recommended to him as it is a highly risky investment program. Now, the claimant is seeking up to $100,000 in damages.

Our broker-dealer fraud lawyers at Shepherd Smith Edwards & Kantas (“SSEK Law Firm”) are representing this investor as well as several others seeking to recoup wrongful losses from UBS Financial’s YES program. SSEK Law Firm represents investors nationwide, including in UBS YES claims. The most recent case SSEK Law Firm has filed will be held in Dallas.

Retiree Couple’s UBS YES Strategy Lawsuit Seeks Up to $1M in Damages and Losses

Published on: June 10, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Claimants Lose Retirement Funds in Complex Options Trading Strategy

A retired couple is suing UBS Financial Services (UBS) after they sustained at least $800,000 in losses from investing in the firm’s Yield Enhancement Strategy (YES).

The investors contend that their UBS broker made misrepresentations and omissions when recommending this unsuitable investment strategy to them and discouraged them from leaving the YES program even as their losses mounted. Now, the investors are seeking up to $1,000,000 in damages, losses, and other costs.

UBS YES Strategy Investors Say They Were Promised Low Risks But Suffered Huge Losses

Published on: June 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investors Claim UBS YES Strategy Was Mismarketed To Them: SEC Looking Into the Allegations

If you are an investor whose UBS broker recommended that you employ the UBS YES (Yield Enhancement Strategy) and you’ve since suffered significant losses, you may have grounds for an investment fraud claim.

Unfortunately, UBS and its registered representatives may have been making unsuitable recommendations of this complex investment strategy to customers, as well as misrepresenting the risks involved.

Morgan Stanley Sued for Unsuitable Recommendations Over Harvest Volatility Strategy, MLPs and Other Complex Investments Made To A Texas Investor

Published on: May 18, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Brokerage Firm Made Unsuitable Investment Recommendations to An Inexperienced Investor

Our brokerage firm fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a Financial Industry Regulatory Authority (FINRA) arbitration against Morgan Stanley on behalf of an elderly Dallas, Texas investor.

The investor in question sustained over $500K in losses due to the unsuitable recommendations of structured products, Master Limited Partnerships (MLPs), other oil and gas equities, and investments governed by Harvest Volatility Management’s Collateral Yield Enhancement Strategy (CYES).

Harvest Volatility Management’s CYES Investments Prove Too Risky For Many Investors During COVID-19

Published on: March 30, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Risks Tied To CYES Strategy Investments Cause More Losses During The Coronavirus

For the past year, our CYES Strategy fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have been working with investors who suffered losses from Collateral Yield Enhancement Strategy (CYES) Investments that were issued by Harvest Volatility Management but were sold by brokers from Morgan Stanley, JP Morgan, Fidelity, Charles Schwab, and other broker-dealers.

Now, with all the market turbulence causing investments to drop in the wake of the novel coronavirus (COVID-19), this Yield Enhancement Strategy is experiencing even more losses.

Coronavirus And Market Drops Likely to Cause More Losses for UBS YES and CYES Strategy Investors

Published on: March 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Coronavirus (COVID-19) Update: YES Strategy Is Vulnerable To Losses Now Markets Are Rough

The World Health Organization (WHO) has just declared the coronavirus a pandemic, with the United States President Donald Trump announcing a travel ban involving more than two dozen nations. As if these health concerns weren’t bad enough, the latest Coronavirus update has also placed the markets in a panic. Dow Jones dropped by thousands of points and the S&P 500 index has also taken a dive.

While the stock markets do typically rebound after a sharp plunge, we are currently living in uncertain times due to COVID-19. As one Bank of America Merrill Lynch report cited in a Reuters article, the coronavirus is the type of “slow-moving train wreck” in which the market “slowly and progressively” realizes its “magnitude.”