Brokers Allegedly Involved Were Also Harvest Group Wealth Management Investment Advisers
Massachusetts Secretary of the Commonwealth William Galvin has filed a complaint against Purshe Kaplan Sterling Investments (PKS Investments), accusing the broker-dealer of failing to supervise its financial advisors. These advisors who were dually registered through another financial firm allegedly sold exchange-traded funds (ETFs) that were unsuitable for customers.
This other firm was Waltham-based investment advisor Harvest Group Wealth Management. As a result, the state securities regulator contends that investors suffered $2.3M in losses.