Siobhan Shaughnessy Involved in $1 Million Dispute
Siobhan Shaughnessy (CRD# 5151594), a broker registered with UBS Financial Services, recommended an unsuitable strategy, according to an investor dispute. MDF Law is investigating the Purchase, New York-based financial professional for similar conduct. Current or former clients with concerns about their accounts are encouraged to reach out for a free, confidential consultation.
To learn more about Ms. Shaugnessy’s history as a broker, continue reading this post. The information that follows can be found in his BrokerCheck profile, a Financial Industry Regulatory Authority record examined on February 28, 2025.
Pending Dispute Alleges Suitability Issues
On November 1, 2024, a party of investors filed a dispute alleging that Ms. Shaugnessy unsuitably allocated an account in equities. Additionally, the claimants alleged that their “overall investment strategy” was not in their best interest. The dispute, which is still pending, seeks $1 million in damages.
What Are Suitable Investments?
One of a broker’s most important obligations is their duty to recommend suitable investments and strategies. Outlined by FINRA Rule 2111, the suitability standard requires that they have a reasonable basis to believe their recommendations are appropriate for a customer’s background and objectives. They must perform reasonable diligence to understand the customer’s profile, which includes their investment experience and objectives, net worth, risk tolerance, liquidity needs, and more. In a similar vein, the SEC’s Regulation Best Interest requires that they disclose information regarding their investment recommendations. It also requires that they “exercise reasonable diligence, care, and skill” into the possible risks and rewards of their recommendations.
UBS Broker’s “Service-Minded Approach”
As her BrokerCheck profile reflects, Ms. Shaugnessy is a representative of UBS Financial Services. The firm’s webpage features an “About” section that outlines her “service-minded approach” to her work. “She sees financial planning as a collaborative experience tailored to each client’s personal goals and customized to the complexity of their financial circumstances,” the profile reads. “Siobhan remains ever-connected to clients and their changing needs through regular contacts and performance evaluations, one-on-one meetings and financial plan reviews.”
FINRA: Siobhan Shaugnessy Based in Purchase, New York
Ms. Shaugnessy launched her career as a broker in 2008, when she joined Merrill Lynch’s office in White Plains, New York. Later that same year, she departed the firm for UBS Financial Services, with whose Purchase, New York office she has remained since. With 16 years of experience as a broker, she has completed three industry exams, including the Series 7.
Call for a Free Consultation with an Attorney
MDF Law’s experienced attorneys have recovered tens of millions in damages for the victims of investment fraud. Our team accepts cases on a contingency basis, meaning we only receive a fee when our clients win. We also offer free consultations to investors nationwide. If you lost money working with Siobhan Shaughnessy, call 800-767-8040 to speak with an attorney today.