Cynthia Cowden (NPB Financial Group) Barred by FINRA

Cynthia Cowden (NPB Financial Group) Barred by FINRA for Recommending Unsuitable Investments

In the intricate world of finance, where trust and integrity are the bedrock of success, allegations of investor fraud have cast a dark shadow over Cynthia Cowden’s actions. Also known as Cynthia Diane Cowden, Cynthia Cowden is a former stockbroker with NPB Financial Group and a registered investment advisor operating under the moniker Cynthia Cowden Investments. Seasoned lawyers specializing in investment fraud in California have been tasked with examining these grave accusations, determined to uncover the truth and seek justice for those who may have fallen victim to unscrupulous practices.

“The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is.” – Winston Churchill

The Financial Industry Regulatory Authority (FINRA), the self-regulating body that oversees the securities industry, has taken decisive action, barring Cowden in October due to speculative, high-risk investment recommendations made to three senior investors. These recommendations were deemed unsuitable, disregarding the clients’ investment profiles and goals. Notably, two of the three investors were a senior couple, entrusting their hard-earned savings to Cowden’s guidance.

According to FINRA’s findings, the elderly couple was advised to invest a staggering $231,000 in an illiquid, non-traded real estate investment trust (REIT). This recommendation was wholly unsuitable for their stated objectives of stability and liquidity, as they depended on their portfolio for supplemental income.

The third senior customer, seeking slow growth at a reasonable rate, was recommended a $250,000 investment in a closed-ended mutual fund, a risky and illiquid asset that concentrated a staggering 50% of their net worth in a single, unsuitable investment.

Compounding the gravity of these allegations, FINRA claims that Cowden provided false testimony regarding the income and assets of all three customers, further eroding the trust placed in her as a financial advisor.

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A Trail of Disconcerting Allegations

A closer examination of Cowden’s BrokerCheck record reveals a concerning pattern of customer disputes, with four prior cases, one of which is pending, while three have been settled. Alarmingly, three of these cases involve senior investors, a demographic that is particularly vulnerable to financial exploitation.

In November 2020, a claim sought $400,000 in damages for alleged violations of elder financial abuse, supervisory failures, unauthorized trades, breach of financial duty, and contract breach.

Another case, settled in January 2020 for $57,000, cited negligence, unsuitability, financial abuse, fraud, supervisory failures, elder financial abuse, breach of fiduciary duty, omissions and misrepresentations, and concentration, among other allegations.

The record further reveals a $80,000 settlement in September 2016 for a claim of elder financial abuse, and a $163,500 settlement in May 2012 for allegations of breach of contract, misrepresentations, and unsuitable investment recommendations.

Cowden’s association with the industry spans over 30 years, during which she worked at various firms, including Tricor Financial, Next Financial Group, Advantage Capital Corp., Protective Equity Securities, and NY Life Securities, before becoming a broker with NPB Financial in 2013.

Seeking Justice and Accountability

At Haselkorn & Thibaut, P.A., a firm with over 45 years of experience solely focused on fighting against fraudulent actions of brokers that have caused investors unreasonable, unfair, and often devastating losses, we understand the gravity of these allegations and the profound impact they can have on individuals and families.

It is important to note that a registered representative’s carelessness or misconduct is their responsibility and that of the broker-dealer, who can be held liable for their failure to adequately supervise and ensure compliance with industry regulations and ethical standards.

Suppose you or someone you know has been impacted by the actions of Cynthia Cowden or any other financial advisor. In that case, we encourage you to come forward and seek the guidance of our experienced attorneys. Our team of specialists, including elder fraud lawyers, is dedicated to pursuing justice and holding those responsible accountable for their actions.

Call us today at 1-888-628-5590 in San Diego to speak with our knowledgeable professionals and explore your legal options.

Our services are available nationally, and we are committed to providing compassionate and unwavering support throughout the process.

In an industry built on trust and fiduciary responsibility, the actions of individuals like Cynthia Cowden serve as a stark reminder of the importance of vigilance and the need for robust regulatory oversight. By holding those who violate ethical standards accountable and empowering investors with knowledge and legal support, we can work towards restoring confidence in the financial markets and ensuring that the hard-earned investments of individuals are protected from unscrupulous practices.

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