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Understanding the Risks: A Tale of Alleged Misguided Advice from Broker Anthony Szymborski

As a financial analyst and a writer, I’ve seen my fair share of unsettling scenarios surfacing in the investment industry. There’s nothing more heart-wrenching for an investor than to wake up to news of poor financial advice. Like you, I understand that the decisions made by financial professionals can have profound impacts on our lives. That’s precisely why the case involving Anthony Szymborski, a broker currently registered with Cambridge Investment Research, caught my attention. If your investment journey has crossed paths with him via Nettworth Financial Group, you should be keenly interested. Access detailed information about this financial advisor’s track record by clicking here.

Troubled Waters: The Dispute Over Variable Annuities

I want to delve into a recent dispute that’s as complex as the investment in question: variable annuities. In December 2023, an investor took aim at Szymborski, claiming he was given bad advice on these financial products, leading to a staggering claim of $211,000. Now, let’s break down what variable annuities are. They’re part insurance, part investment, and are typically accompanied by a mix of charges that can make your head spin. Imagine walking a financial tightrope; that’s the risk involved with variable annuities. They’re not a one-size-fits-all solution and could even be disadvantageous for some.

Off-Limits Advice: Understanding FINRA Rule 2020

I can’t stress enough the value of trustworthy financial guidance. It’s crucial to know that the Financial Industry Regulatory Authority’s (FINRA) Rule 2020 prohibits any deceitful maneuvering—whether its misleading persuasion or flat-out fraudulence—in the buying or selling of securities. Just as you wouldn’t want to unknowingly purchase a haunted house, investors should never be left in the dark about their investments.

Doing Your Due Diligence: Getting to Know Your Broker

As for Anthony Szymborski, he holds registration in seven states and is also a registered investment advisor in Wisconsin. With a robust 24 years of experience, spanning service with seven firms—including Cambridge Investment Research, FSC Securities Corporation, and Banc One Securities Corporation—his industry qualifications are well-documented. Szymborski has passed several key exams:

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  • Series 65 Uniform Investment Adviser Law Examination
  • Series 63 Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 Futures Managed Funds Examination
  • Series 7 General Securities Representative Examination
  • Series 6 Investment Company Products / Variable Contracts Representative Examination

If you’re like me, you believe in being proactive, especially where your financial health is concerned. Should you have any concerns about dealings with Szymborski, don’t hesitate to seek professional guidance. It’s like that timeless bit of wisdom says, “A stitch in time saves nine.” Prompt action could prevent further financial distress and keep your investment goals on track. It is, after all, your future at stake. So, take charge and begin your path toward recovery if necessary.

To share a financial fact that’s as stark as it is illuminating—did you know that a study by the National Bureau of Economic Research found misconduct among financial advisors is surprisingly common, with 7% of advisors having been disciplined for fraud or misconduct? This statistic underscores the importance of thorough vetting and monitoring of financial advisors.

“An investment in knowledge pays the best interest,” Benjamin Franklin once said. This rings true in every aspect of our financial lives, especially when it involves choices that could shape our financial future. Take action, educate yourself, ensure you know who’s managing your money, and always verify an advisor’s history, which you can do quite simply by checking their FINRA CRD number.

In conclusion, it’s clear that financial literacy and vigilance are key to protecting yourself from bad advice. Remember, the decisions we make now could impact our financial well-being for years to come. Let’s make those decisions informed ones.

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