You are not alone. Investment loss claims over UBS “Yield Enhancement Strategy (YES)” have poured in as market volatility has produced losses that could total over $1 billion.
The Sonn Law Group is investigating allegations that brokers recommended unsuitable investments in UBS’s YES program. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Investors are alleging that brokers recommended investments in UBS’s Yield Enhancement Strategy (“YES”) program, representing that the investments were low-risk and market-neutral. The investors were allegedly told that they would be able to generate enhanced yield while reducing risk without requiring additional funds to be deposited into their UBS accounts.
The YES program involves using an investor’s equity in their UBS account to pursue a low-risk options strategy involving put and call options on the S&P 500 index. It is also alleged that the YES strategy engaged in market timing and taking directional positions on the market which caused significant losses. In October 2018, YES lost 6.89%. In December 2018, YES lost 13.5%. Overall in 2018, YES lost 18.65%. Overall in 2019, YES lost 2.1%. And overall in 2020 through June, it had lost 13.5%.
In return for recommending the YES program to investors, UBS generated significant advisory fees of 1.75%. UBS is accused of breaching its fiduciary duty by placing its own interest ahead of its customers’ interests.
Rick Schultz, the managing director of The Washingtonian Group, was registered with UBS Financial Services in Washington, D.C. from 2011 to September 2019. Eric Teichberg, the executive director for The Washingtonian Group, was registered with UBS Financial in Washington, D.C. from 2003 until September 2019. Howard Rothman, the vice president of The Washingtonian Group, was registered with UBS Financial from 2003 until September 2019.
Contact Sonn Law to Discuss Recovery Options
The Sonn Law Group is currently investigating allegations that brokers recommended unsuitable investments in UBS’s YES program. 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.