Public records provided by the Financial Industry Regulatory Authority (FINRA) on July 18, 2016 indicate that Massachusetts-based Winslow Evans & Crocker broker/adviser Shawn Devillier has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Devillier (CRD# 1730798).
Shawn Devillier has spent 28 years in the securities industry and has been registered with Winslow Evans & Crocker in Boston, Massachusetts since 2011. Previous registrations include Raymond James & Associates in Springfield, Massachusetts; Morgan Stanley DW in Purchase, New York; and Merrill Lynch in New York, New York. He is a registered broker and investment adviser with six US states: Colorado, Connecticut, Florida, Massachusetts, New York, and Texas.
According to his BrokerCheck report, Shawn Devillier has received three customer complaints.
In 2014, a customer alleged Shawn Devillier, while employed at Raymond James & Associates, made unsuitable investment recommendations, breached his fiduciary duty, committed common law fraud, and breached contract. The complaint, in which Mr. Devillier was not a named respondent, settled in February 2015 for $12,500.
In 2011, Shawn Devillier was discharged from his position at Raymond James & Associates following allegations he lost confidence in his ability to comply with firm rules and regulations, specifically with regard to unauthorized trading.
In 2006, a customer alleged Shawn Devillier, while employed at Morgan Stanley, misappropriated funds, executed unauthorized transactions, and unsuitably used margin. The complaint settled in 2007 for $135,000.
In 2003, a customer alleged Shawn Devillier, while employed at Morgan Stanley, engaged in unspecified conduct related to “2001 Bridge Financing.” The complaint settled in 2004 for $75,000, to which Mr. Devillier individually contributed $75,000.
According to FINRA rules and federal securities law, brokers like Shawn Devillier are beholden to a fiduciary duty that requires them to act only in the best interests of their clients. This means, for instance, that they can only recommend suitable investments that take into account the client’s investment goals, experience, and risk tolerance. Brokers are not permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you have lost money investing with Shawn Devillier, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recoup your losses. All cases are taken on contingency, which means Fitapelli Kurta only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.