{"id":6833,"date":"2019-02-20T13:54:27","date_gmt":"2019-02-20T19:54:27","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6833"},"modified":"2019-02-20T13:54:27","modified_gmt":"2019-02-20T19:54:27","slug":"united-planners-fined-100k-by-ma","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/","title":{"rendered":"United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker"},"content":{"rendered":"<p>\t\t\t\t<a href=\"http:\/\/www.sec.state.ma.us\" target=\"_blank\" rel=\"noopener noreferrer\">Massachusetts Secretary of the Commonwealth William Galvin\u2019s office<\/a> has fined United Planners Financial Services of America $100K for failing to properly supervise broker Thomas T. Riquier. The broker was charged last year for violating the state\u2019s securities laws over his alleged involvement in a real estate scam that defrauded investors and others of at least $1M over 26 years.<\/p>\n<p>According to the state regulator\u2019s consent order, at one point Riquier, who is president of The Retirement Financial Center, oversaw 1,771 accounts for about 400 clients and generated more than $1.2M for United Planners, including over $500K in advisory fees. The state regulator charged Riquier, who is no longer a registered broker or investment adviser, last year with violating the Massachusetts Uniform Securities Act.<\/p>\n<p>Investors of a limited partnership known as the Rowley Land Appreciation Fund Limited Partnership (The Rowley Fund) contend that Riquier told them that the property he was purchasing on their behalf would be sold for profit. Instead, he allegedly used their money to buy property that already belonged to him. Investors have yet to see any return on this property. Last year, <em><a href=\"https:\/\/www.salemnews.com\/news\/local_news\/financial-adviser-accused-of-scamming-clients\/article_08da676f-d20e-52b4-a4bc-d45905831cfb.html\" target=\"_blank\" rel=\"noopener noreferrer\">The Salem News <\/a><\/em>reported that according to investigators, Riquier made about $730K from his investor fraud.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/\"  title=\"Continue Reading United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Massachusetts Secretary of the Commonwealth William Galvin\u2019s office has fined United Planners Financial Services of America $100K for failing to properly supervise broker Thomas T. Riquier. The broker was charged last year for violating the state\u2019s securities laws over his alleged involvement in a real estate scam that defrauded investors and others of at least [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":444,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3783,3774],"tags":[3293,3294,3295],"class_list":["post-6833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","category-broker-misconduct","category-broker-dealers","tag-the-rowley-fund","tag-thomas-t-riquier","tag-united-planners-financial-services"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker &#8212; Investor Lawyers Blog &#8212; February 20, 2019<\/title>\n<meta name=\"description\" content=\"Massachusetts Secretary of the Commonwealth William Galvin\u2019s office has fined United Planners Financial Services of America $100K for failing to properly supervise broker Thomas T. Riquier.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker &#8212; Investor Lawyers Blog &#8212; February 20, 2019\" \/>\n<meta name=\"twitter:description\" content=\"Massachusetts Secretary of the Commonwealth William Galvin\u2019s office has fined United Planners Financial Services of America $100K for failing to properly supervise broker Thomas T. Riquier.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/justice-bw-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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":"United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker &#8212; Investor Lawyers Blog &#8212; February 20, 2019","description":"Massachusetts Secretary of the Commonwealth William Galvin\u2019s office has fined United Planners Financial Services of America $100K for failing to properly supervise broker Thomas T. 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Riquier.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/justice-bw-1.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"United Planners Fined $100K By Massachusetts for Inadequate Supervision of a Broker","datePublished":"2019-02-20T19:54:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/"},"wordCount":509,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/united-planners-fined-100k-by-ma\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/04\/justice-bw-1.jpg","keywords":["The Rowley Fund","Thomas T. 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