Burish is accused of recommending a strategy that was unsuitable and risky.
Andrew Burish (CRD: 1111163) is registered as a broker and investment adviser with UBS Financial Services in Madison, Wisconsin. Burish has been with UBS Financial since 1990.
Burish has three disclosures on his BrokerCheck report. One customer dispute filed against Burish was denied.
February 2021 Customer Dispute
- Status: Pending
- Allegations: Time frame: September 2019- July 2020 The claimants allege the FA recommended an unsuitable and risky strategy of selling the stock of Tesla short and recommended that they continue to hold the positions in the face of mounting losses.
- Damage Amount Requested: $23,085,874.00
March 2010 Customer Dispute
- Status: Settled
- Allegations: Claimants allege unsuitable recommendations of Lehman structured products. Time frame: January 2008- March 2008.
- Damage Amount Requested: $1,255,000.00
- Settlement Amount: $1,004,000.00
- Broker Comment: Despite the fact that this case was settled, there should be no assumption that there was any liability or wrongdoing on my part related to the settlement. These clients were highly successful, sophisticated business people who were involved in numerous high dollar projects. Client asked for Capital Appreciation with an aggressive speculative risk tolerance. These investments were suitable for the client and the client was so pleased with the return, they requested to buy more. Not only did the client buy these structured products, but they bought structured products issued by at least two other firms – but they never claimed that those products were unsuitable? I personally handed the clients hard copies of the prospectus, so any claim that they did receive a prospectus is false. These investments were suitable for the client when sold to them. They were suitable when the client agreed to the purchase of the products and they were suitable for the client, when the client requested to buy more. All risks were explained to the clients and any claim contrary to that fact is also false. Again, there should be no liability or wrongdoing associated with this settlement on my part whatsoever. The Firm settled this matter strictly as a business decision to avoid the costs and the uncertainty of the arbitration process. I was never asked to contribute any money toward the settlement.
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The Sonn Law Group is currently investigating allegations surrounding Andrew Burish. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.