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Articles Tagged with REIT losses

Triad Advisors and its Ex-Florida-Based Broker Placed Claimants Funds In Too Risky GPB Capital & REIT Investments  

Two Utah retirees have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Triad Advisors, Inc. over losses they suffered from investing in GPB private placements and privately traded real estate investment trusts (REITs), including American Realty Capital Trust. Now they are seeking up to $500K in damages. 

The couple worked with former Triad Advisors broker Michael Payne, who is now a broker with Proequities, Inc. in Longwood, Florida. He also is a financial representative with Payne Financial Group in Winter Springs, Florida. 

After American Realty Capital New York City Real Estate Investment Trust Went Public, Share Price Plunged

If you are a retail investor whose broker recommended that you invest in American Realty Capital (ARC) New York City Real Estate Investment Trust (REIT), you may have grounds for an unsuitable investment recommendation claim. 

ARC NYC REIT is a risky, speculative investment and definitely shouldn’t have been marketed to inexperienced investors, conservative investors, seniors, or retirees. Although initially a non-traded real estate investment trust (non-traded REIT),  and also an illiquid investment, ARC NYC REIT went public on the New York Stock Exchange (NYSE) in August.

Metairie, LA Broker Allegedly Made Unsuitable Recommendations to Retirees 

If you suffered serious investment losses from working with FSC Securities Corp. stockbroker and Nettworth Financial investment advisor, Frank Briseno III, you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to recover your losses.

Briseno, who is a Metairie, Louisiana broker, also co-ran Nettworth Financial Group with another FSC Securities broker. The New Orleans investment advisory firm, which may no longer be in operation, has been accused by more than two dozen retirees of unsuitably selling them real estate investment trusts (REITs) while generating high commissions.  

Latest FINRA Arbitration Claim Allege REIT Losses 

A number of investors recently filed a customer complaint against former Kalos Capital broker, Curtis Leroy Whipple, who was with the firm out of Plymouth, Michigan until this year.  He faces allegations of unsuitability, misrepresentations, and lack of due diligence related to the claimants’ United Development Funding IV (UDF IV) losses. 

UDF IV is a real estate investment trust (REIT) that mostly invests in secured loans for acquiring and developing land into single-family home lots, as well as to construct homes and model homes.  UDF IV and the other UDF non-traded REITs have been accused in recent years of being part of a $1B Ponzi scam. United Development Funding is based out of Dallas, Texas. 

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