Shepherd Smith Edwards and Kantas FINRA Arbitration Is Investigating

Our Delaware Statutory Trust Recovery Attorneys at Shepherd Smith Edwards and Kantas FINRA arbitration are actively investigating brokerage firms that recommended high-risk, illiquid Zero Coupon OH Fulfillment DST investments to conservative investors and retirees. These specialized securities lawyers assist affected clients in evaluating their legal options and pursuing financial recovery for unreturned capital and improper sales practices through FINRA arbitration.

The Financial Industry Regulatory Authority (FINRA) has barred former financial advisor Buddy Dean Mason after he would not provide records in its investigation into a customer complaint accusing him of selling away. Mason, who stepped down from working as an LPL Financial advisor earlier this year, agreed to the bar without denying or admitting to the findings.

Shepherd Smith Edwards and Kantas (investorlawyers.com) is looking into the allegations against Mason. The former Florida financial advisor worked in the brokerage industry for 10 years.

Buddy Dean Mason’s BrokerCheck CRD notes two recent customer disputes that resulted in settlements. Both claimants alleged selling away. One of the investor claims was settled for more than $129,000.

What Is Selling Away and Why Is It Risky For Investors?

This is what happens when a broker sells unapproved financial products or private securities to customers. The broker-dealer has not vetted or authorized the sale of these investments, which means the transactions are taking place outside of normal supervisory channels.
Unauthorized selling away often happens because the broker is prioritizing their own financial interests. They may be able to earn higher commissions or fees from these unapproved investments, perhaps even own a share in the company issuing the products, or they could be running some type of investment scam.
Investments that are sold without going through the proper vetting and compliance measures can be highly risky and illiquid. They may even be unregistered products.
Securities and other financial products sold away typically don’t show up on regular brokerage statements.
Selling away by a registered representative, unless their broker-dealer is informed of and approves the transaction in advance, is illegal.

This wrongful practice can expose investors to risking all of their capital and falling victim to fraud.

I Am The Victim of Selling Away By My Broker. Can I Sue For Damages?

You may have grounds for an investment recovery claim against your financial advisor and/or the brokerage firm where they were registered at the time. It doesn’t matter if the broker-dealer knew about the selling away. They should have had the supervisory procedures and measures in place for preventing or detecting and stopping this unauthorized outside business activity.

Discuss Your Selling Away Losses With Us Today

To assess whether you can and should sue for your selling away losses, contact Shepherd Smith Edwards and Kantas today. We represent investors in FINRA arbitration whose financial advisors marketed and sold unapproved investments to them.

Call our FINRA arbitration law firm (800) 259-9010 or reach out to our selling away lawyers online.