Reg BI Lawyers

Did You Sustain Investor Losses While Working With Ex-American Trust Investment Services Broker Linda Wimsatt? Our Reg BI Lawyers Want To Talk To You

For over 30 years, Shepherd Smith Edwards and Kantas Reg BI Lawyers has been fighting for investors who have suffered portfolio losses due to broker misconduct or negligence. At the moment, we are looking into claims of investment losses involving former customers of suspended financial advisor Linda Jill Wimsatt.

Most recently registered with brokerage firm American Trust Investment Services and investment adviser Chicago Capital Management, she was suspended by the Financial Industry Regulatory Authority (FINRA) last month following findings that Wimsatt allegedly violated clients’ best interests when she purportedly unsuitably recommended speculative, unrated corporate bonds to retail customers and retirees. The California financial advisor consented to the sanctions, including an almost $21K fine, without denying or admitting to the findings.

According to Linda Wimsatt’s CRD, she has worked in the brokerage industry for more than 33 years and over that time has been registered with over a dozen brokerage firms and investment advisers. Before working as an American Trust Investment Services stockbroker, she was a WestPark Capital broker.

Wimsatt’s record shows at least 11 customer disputes, most of which are still pending. Allegations by her former clients include gross negligence, negligence, breach of fiduciary duty, breach of contract, broker fraud, elder financial abuse, concentration, misrepresentations, due diligence failures, breach of contract, regulation best interest, failure to supervise, and more.

Some of the customer disputes specifically name GWG L Bonds as the investment in which they sustained losses as a result of Wimsatt’s alleged financial advisor misconduct.

Why You Should Explore Your Legal Options for Filing a Broker Misconduct Claim Over Losses Involving Regulation Best Interest Violations

Not all portfolio losses involve some kind of broker fraud or negligence, but there are those that do.  At Shepherd Smith Edwards and Kantas, our Reg BI Lawyers can assess and identify whether your investment losses merit grounds for pursuing damages from your financial advisor and/or the brokerage firm they were registered with at the time.

Regulation Best Interest now has set up a “best interest” standard of conduct for brokerage firms and associated persons to abide by when recommending any kind of investment, securities transaction, or securities investing strategy to a retail customer.

You want to work with knowledgeable stockbroker negligence attorneys that know how to determine whether your financial advisor’s conduct fulfilled the appropriate level of professional care they were supposed to provide you.

Should You Sue The Broker-Dealer Over Your Portfolio Losses?

Oftentimes, it is the brokerage firm where the financial advisor was registered at the time of the alleged misconduct that ends up becoming the primary respondent in an investment loss recovery claim. While there is a statute of limitations, you may still have time to pursue damages from American Trust Investment Services or WestPark Capital over the portfolio losses that you suffered.

One of the alternative investments that some of Wimsatt’s former customers have complained about in terms of allegedly unsuitable recommendations made is GWG L Bonds. Currently, we are representing dozens of investors in their L Bond recovery claims against many of the brokerage firms whose registered representatives marketed and sold these high-risk junk bonds. GWG is now accused of operating a more than $1.6B Ponzi Scam.

To Schedule Your Free, Initial Case Consultation To Determine Whether Your Broker Violated Your Best Interests as An Investor: 
Call our Reg BI Lawyers at (800) 259-9010 or fill out this form.