Detroit securities law attorneys Mika Meyers, PLC are interested in talking to current and former customers of stock broker Don Teboe of Clinton, Michigan. According to his online Brokercheck report, Teboe is involved in a customer dispute relating to allegations that he recommended “various unsuitable, high risk speculative securities” to the complaining customer between 2012 and 2017. The customer, who is seeking $100,000 in damages, has also alleged fraud, negligence, breach of fiduciary duty, and breach of contract. Teboe is currently registered with the firm Cantella & Co., Inc. and was previously registered with Questar Capital Corporation.
Financial advisors have a duty to recommend suitable investments and investment strategies to their clients. A recommendation is only suitable if it comports with the client’s investment objectives, risk tolerance, investment experience, investment time horizon, liquidity needs, and income needs. The duty to recommend suitable investments cannot be disclaimed through risk disclosures or waivers.
Breach of Fiduciary Duty
Fiduciary relationships between financial advisors and their clients are relationships of the utmost trust and confidence. Accordingly, fiduciary advisors have a duty to act in a manner that they reasonably believe is in the best interest of their clients. They also have duties of honesty, loyalty, care, and disclosure. A breach of fiduciary duty occurs when the advisor violates the trust and confidence that has been reposed in him or her by the client.
If you have suffered investment losses as a result of the malpractice or misconduct of Don Teboe, Cantella & Co., Inc., and/or Questar Capital Corporation, our experienced team of investor attorneys may be able to assist you. Call us toll-free at 888-607-4819 for a free consultation and case evaluation.