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Investor Lawyers BlogTriad Advisors To Pay $195K Fine and More Than $510K in Restitution For LJM Fund Sales
FINRA Said Triad Brokers Unsuitably Recommended LJM Preservation and Growth Fund
In December 2021, the Financial Industry Regulatory Authority (FINRA) censured and fined Triad Advisors $195K for allegedly failing to supervise its registered representatives that unsuitably recommended the LJM Preservation and Growth Fund (LJM) to customers.
The self-regulatory organization (SRO) contends that the broker-dealer allowed the sales to go through without first conducting the proper due diligence into the LJM Fund – especially while not having enough understanding about the Fund’s features and the risks involved.