SSEK Helps Recover Losses Against Titan Securities
Our seasoned securities fraud and investment fraud lawyers are representing investors throughout the US who have suffered stock losses because of the negligent or wrongful actions of a Titan Securities financial advisor. Headquartered in Addison, Tx, this financial firm provides securities brokerage, asset management, investment advisory, insurance services, and investment banking services to customers.
Titan Securities is registered in more than 35 states and conducts all of its brokerage services through Axos Clearing. The firm is also known under the name JT Securities Management but does business as Titan.Titan Securities Has a Record for Hiring “Problematic” Brokers
According to a 2017 study that Reutersconducted with the help of Columbia University Law School, Titan Securities is one of the registered brokerage firms with a high concentration of financial advisors who have previous red flags on their records. This may include past regulatory sanctions, civil judgments, broker misconduct allegations, firings from previous firms, or personal bankruptcies. At the time, 41.4% of Titan Securities’ brokers had such disclosures.
Although it isn’t against the law for broker-dealers to hire registered representatives with a history of sanctions or “bad behavior,” this practice can leave their customers vulnerable to working with financial advisors who may have already committed securities fraud or stockbroker negligence. Why then would any brokerage firm, including Titan Securities, want to place their customers’ portfolios at risk by hiring these same financial advisors?FINRA Sanctions Titan Securities for Supervisory Failures
In June 2021, the Financial Industry Regulatory Authority (FINRA)’s National Adjudicatory Council made the decision to suspend Titan Securities owner and CEO Brad Brooks for a year. The sanction was over Titan Securities' alleged failure to supervise its former broker Richard Demetriou. The latter is accused of selling unapproved securities to Titan clients.Did You Experience Investment Fraud From Titan Securities?
Your broker should always only recommend products that are suitable for you given your investing profile, financial goals, and risk tolerance level. This means advising you to only invest in securities that carry no more risk than what you are willing to accept or that your portfolio can handle.
Unfortunately, there are financial advisors and brokerage firms who will forego customers’ best interests and sell them products that are too illiquid or volatile for them. As a matter of fact, a number of Titan Securities brokers have been involved in FINRA arbitration claims brought by investors who suffered stock losses in real estate investment trusts, private placements, or other alternative investments that were too risky for them.
In 2022, Titan Securities came under scrutiny for selling GWG Holdings to L Bonds to customers, including retirees and seniors. L Bond customers are facing many millions of dollars in stock losses following GWG Holdings’ bankruptcy filing and other financial woes.
Our skilled GWG Holdings L Bond loss attorneys are representing investors with FINRA arbitration claims against Titan Securities, including:
- A Kansas City retiree requesting six figures in damages. The claimant says that Titan Securities broker Rodger Sprouse, also known in Missouri under the firm name Sprouse Financial, never apprised him of the risks.
- An older Texas couple contends that Titan Securities concentrated their funds in L Bonds and other illiquid investments. They are pursuing up to $500K in damages.
Most investors are taking a risk whenever they invest their money, and stock losses can happen due to market activity or unforeseen events. Some investor losses, however, could and should have been avoided were it not for the negligent, wrongful, reckless, or even clueless actions and/or the bad advice of their financial advisor.
Unfortunately, identifying who or what was responsible for your losses can be tough, which is where our savvy investment fraud lawyers come in. SSEK Law Firm can:
- Help you determine whether you have grounds for an investor claim against your broker-dealer to pursue damages.
- Advise you on how you can stop further investment losses from happening.
- Should we agree to work together, we can file a FINRA arbitration claim on your behalf.
- Represent you before the arbitration panel and against the brokerage firm.
SSEK Law Firm represents investors throughout the United States, as well as investors outside the country with investment fraud claims against US-based brokerage firms. We have worked with retail customers, retirees, high-net-worth individual investors, and institutional investors in recovering many millions of dollars.
To request your free, no-obligation initial case assessment, with one of our experienced investor loss attorneys call (800) 259-9010 or contact us online.
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