Israels & Neuman, PLC Investigates John Pronovost, of Cambridge Investment Research, and the LJM Preservation and Growth Fund
Have you lost money with financial advisor John S. Pronovost (CRD# 1990612) of Cambridge Investment Research in Watertown, Connecticut? We are investigating allegations of former customers related to John Pronovost. John Pronovost’s CRD report, a public record maintained by FINRA, states that Pronovost has been the subject of eleven customer complaints, many of which concern the LJM Preservation and Growth Fund.
In February 2018, the LJM Preservation and Growth Fund, declined over 80% in a two-day span. The LJM fund was purported to use market volatility to benefit its investors, but clearly it failed. The LJM fund suffered losses because of use of leverage, margin, and option trading.
John Pronovost is a registered representative of Cambridge Investment Research from 2008 to the present. He has worked at branch offices in Watertown, Connecticut and Nantucket, Massachusetts. Pronovost is also affiliated with Pronovost Advisory Services.
Brokerage firms like Cambridge Investment Research have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Connecticut and New England. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against Cambridge Investment Research.