Vanderbilt Financial Advisor Accused of Using “Worst” Sales Tactics to Sell GPB Investments
If you suffered financial losses while working with Vanderbilt Financial registered representative Jeffrey Lewis Gitterman, you may have grounds for pursuing damages through Financial Industry Regulatory Authority (FINRA) arbitration.
The Edison, New Jersey broker is currently named in two pending customer disputes. He also was accused in an InvestmentNews article of being one of the brokers to employ the “worst tactics” when selling GPB private placements to customers while he was a Triad Advisors financial advisor.
Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is currently investigating customer complaints involving broker Jeffrey Gitterman. Call SSEK Law Firm at (800) 259-9010 today.
Investor Claims Allege Unsuitability Against Jeffrey Gitterman
According to BrokerCheck, Gitterman has worked 30 years in the industry. Other firms he used to be registered with include ING Financial Advisers, Aetna Financial Services, The Equitable Life Assurance Society of the United States, and AXA Advisors. He is a registered investment advisor and the co-founder of Gitterman Wealth Management.
Gitterman is currently named in at least four customer disputes accusing him of making unsuitable investment recommendations:
- July 2021: This claimant is seeking $100K in damages.
- June 2021: This is a still pending, unsuitability case.
- February 2020: This investor claim was settled for $300K, with Triad Advisor paying $225K.
- October 2019: This unsuitable investment case involving GPB private placements was settled for $55K.
Former Triad Advisors Sold $11M in GPB Investments
Gitterman was with Triad Advisors from 2010 to 2017. The firm has since come under fire for being among the broker-dealers that collectively made over $140M from selling GPB investments to customers. GPB Capital Holdings is accused of operating a more than $1.8B Ponzi scheme that defrauded over 17,000 investors.
The InvestmentNews article from February reported on how some broker-dealers and their financial advisors used aggressive sales tactics to promote the GPB Funds to customers.
The media outlet names Gitterman Wealth Management and accuses them of marketing events connected to Ascendant Capital LLC, the wholesaler of the GPB private placements. In an interview, Gitterman admitted to selling about $11M in GPB private placements to customers.
Seasoned GPB Private Placement Lawyers
SSEK Law Firm is pursuing several GPB private placement claims against Triad Advisors and other brokerage firms in FINRA arbitration. Contact us today for more information on how you can recoup financial losses by filing an arbitration claim against a broker or broker-dealer that unsuitably sold you GPB private placements.