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Articles Tagged with Alternative Investments

Ameriprise Financial Services Investment Advisor Accused of Unsuitability, Misrepresentations

If you suffered investment losses while working with Ameriprise Financial Services stockbroker, Kevin Douglas Houser, please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) right away. 

The Center Valley, Pennsylvania financial advisor is already named in four substantial pending customer disputes over alternative investments

UBS Financial Broker Runs The Burish Group in the Midwest 

If you are an investor who suffered losses while working with UBS broker Andrew Burish, please contact our broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com). 

Burish is considered a top UBS financial advisor who is head of The Burish Group in Madison, Wisconsin. He is accused of repeatedly recommending the short-selling of Tesla, Inc. shares, causing over $23M in losses for four couples, who are all related, and another investor. Tesla is an electric vehicle and clean energy company founded by billionaire Elon Musk. 

Wealth Management Firm Also May Have Sold ARC NYC REIT, NorthstarHealthcare Income REITs, and Other Illiquid Securities 

Wealth management solutions holding company, Atria Wealth Solutions, Inc. recently announced that it is acquiring SFC Securities, which is a brokerage firm based in Fresno, California. Also included in the acquisition will be SCF Investment Advisors, Inc. and SCF Marketing, Inc. The deal is expected to be finalized by the middle of 2021. 

Our alternative investment fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are currently investigating SFC Securities over its sale of:  

Infinity Q Capital Management Founder May Have Incorrectly Valued Certain Fund Assets

The US Securities and Exchange Commission (SEC) has approved the suspension of redemptions on the $1.8B Infinity Q Diversified Alpha Investor Fund (IQDAX). This includes postponing redemption date payments past seven days.

The move comes in the wake of allegations that Infinity Q Capital Management CIO and founder, James Velissaris, may have placed the incorrect value on certain complex derivatives in the open-ended mutual fund. 

Wealth Enhancement & Preservation CEO Named in Two Pending Investor Claims

Triad Advisors stockbroker, Darrin Stuart Cohen, is currently the subject of two pending Financial Industry Regulatory Authority (FINRA) arbitration claims from customers collectively seeking $600K in damages. The allegations involve the unsuitability of investments, including alternative investments, that were sold to them. 

Cohen is also the CEO of Wealth Enhancement & Preservation in Alpharetta, Georgia and a registered investment advisor for Red Triangle, LLC in Charleston, South Carolina. 

Former Canonsburg, Pennsylvania Stockbroker Faces Selling Away Allegations

Three years after the Financial Industry Regulatory Authority (FINRA) barred him, Jonathan Douglas Freeze remains the subject of eight pending customer disputes. Most of these investor claims accuse him of selling away and investing customers’ funds in Alternative Investment Holdings, a North Carolina real estate and investment holdings company, without Fortune Financial Services’ authorization.  

Freeze worked 21 years in the industry. He also previously was a broker for Summit Brokerage Services, LPL Financial (LPLA), Lincoln Financial Advisors, and The Lincoln National Life Insurance Company.

Morrow Allegedly Made Unsuitable Recommendations Involving Alternative Investments 

In what is at least the thirteenth customer complaint naming him, Concorde Investment Services broker William Aubrey Morrow is once more accused of making unsuitable investment recommendations to an investor. 

Morrow, who also operates under the name Financial Designs, LTD, has been involved in a number of broker fraud investor claims related to alternative investments including limited partnerships, real estate investment trusts (REITs)  tenant-in-common (TIC) programs, and other investments. 

Business Development Company May Have Been Unsuitable For Some Investors 

If you are an investor who suffered losses after your stockbroker recommended the Franklin Square KKR Capital II Fund (FSKR), also known as FS KKR Capital Corp II, you may have grounds for pursuing a broker fraud claim for damages. 

This business development company (BDC), which is a merger of four non-traded BDCs, reportedly was unsuitably recommended to a number of customers and/or the risks were never fully disclosed to them.

Crown Capital Securities Broker Was Recently Named in Four FINRA Arbitration Claims  

Dennis Haywood, a Crown Capital Securities broker, is now named in four customer disputes, all of which were filed in the last two months with the Financial Industry Regulatory Authority (FINRA). Haywood is also a Purepath Wealth Management investment adviser. 

The claimants are accusing him of making inappropriate investment recommendations of non-traded real estate investment trusts (non-traded REITs), non-traded business development companies (BDCs), alternative investments, and variable annuities (VA).

Diamond and Other Kalos Capital Brokers Are Accused of Broker Fraud 

Arni Diamond, who is now a registered representative with Dempsey Lord Smith,  is currently the subject of a pending $200K broker fraud claim accusing him of making unsuitable alternative investment recommendations reportedly while he was a Kalos Capital broker. 

Diamond is one of a number of financial representatives currently or formerly associated with Kalos who has been accused of marketing securities products to investors even when they were inappropriate for them.

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