Damon Vickers— Excessive Trading and Excessive Commissions
Damon Vickers Allegedly Engaged in Excessive Trading and Charged Excessive Commissions
Damon Vickers, a financial advisor who previously worked with Southeast Investments N.C., Inc., allegedly engaged in excessive trading and charged excessive commissions to customers, according to a Complaint from the Washington Division of Securities currently under review by attorney Joe Peiffer and Alan Rosca.
Damon Vickers, from 2009 to 2012, from 2009 to 2012, allegedly excessively traded his customers’ accounts and purportedly brought in over $5.3 million in commissions during the aforementioned time period, according to the aforementioned Complaint.
The Peiffer Rosca Wolf securities lawyers are currently investigating Damon Vickers and his alleged practices of excessive trading and charging of excessive fees.
Damon Vickers Allegedly Provided Investment Advisory Services Despite Having No Investment Advisory License or Registration
Damon Vickers, the author of “The Day After the Dollar Crashes: A Survival Guide for the Rise of the New World”, allegedly provided investment advisory services, despite holding no investment advisory license or registration, according to the Washington Division of Securities Complaint currently under review by attorney Joe Peiffer and Alan Rosca.
Furthermore, some of Vickers’ customers paid as much as 18.35% per year of the value of the customer’s portfolio value in commissions, the Complaint notes.
Finally, Damon Vickers allegedly operated customers’ accounts which had turnover ratios as high as 6.6, and the majority of the accounts purportedly held a turnover ratio of 4 or more, and the cost-equity ratios had an average of 12.66%, and were as high as 24.83%, according to the Complaint.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged excessive trading and charging of fees. They are currently investigating Damon Vickers’ alleged excessive trading and charges of excessive commissions to customers. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Damon Vickers’ alleged excessive trading and charges of excessive commissions to customers may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.