{"id":5709,"date":"2014-11-07T00:00:00","date_gmt":"2014-11-07T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/11\/aig_advisor_group_securities_a"},"modified":"2022-03-10T09:14:25","modified_gmt":"2022-03-10T15:14:25","slug":"aig-advisor-group-securities-a","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/aig-advisor-group-securities-a\/","title":{"rendered":"AIG Advisor Group, Securities America, LPL Financial, Cambridge, And Even Schorsch\u2019s Broker-Dealer Stops Selling His REITs"},"content":{"rendered":"

\t\t\t\tMore broker-dealers are suspending their sale of Nicholas Schorsch-affiliated nontraded real estate investment trusts. The suspensions are coming in the wake of the announcement of a $23 million accounting error involving American Reality Capital Properties Inc., which is the traded REIT under Schorsch\u2019s control. Even after the error was found it was purportedly purposely left unfixed.<\/p>\n

Now, LPL Financial Holdings Inc. (LPLA), the biggest independent broker-dealer in the country, has said that it has put a stop for now to the sale of products sponsored Schorsch\u2019s RCS Capital Corporations, American Realty Capital Properties Inc., and their affiliates. LPL has almost 14,000 advisers.<\/p>\n

Another brokerage network, AIG Advisor Group, which has four broker dealers and 6,000 registered representatives and advisers, said it was suspending its sale of two Schorsch-related nontraded REITS: the Phillips Edison-ARC Grocery Center REIT II and the American Realty Capital New York City REIT Inc.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

More broker-dealers are suspending their sale of Nicholas Schorsch-affiliated nontraded real estate investment trusts. The suspensions are coming in the wake of the announcement of a $23 million accounting error involving American Reality Capital Properties Inc., which is the traded REIT under Schorsch\u2019s control. Even after the error was found it was purportedly purposely left […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3987,3752,3877,3759],"tags":[],"class_list":["post-5709","post","type-post","status-publish","format-standard","hentry","category-american-international-group","category-financial-firms","category-lpl-financial","category-reits"],"yoast_head":"\nAIG Advisor Group, LPL Financial And More Stops Sale Of REITs | Securities Fraud Attorney<\/title>\n<meta name=\"description\" content=\"More broker-dealers are suspending their sale of Nicholas Schorsch-affiliated nontraded real estate investment trusts (REITs). 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Read more in our article.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"AIG Advisor Group, LPL Financial And More Stops Sale Of REITs | Securities Fraud Attorney","description":"More broker-dealers are suspending their sale of Nicholas Schorsch-affiliated nontraded real estate investment trusts (REITs). 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