I’m A Retiree Who Lost Money After My Broker Placed My Savings In Non-Traded REITs. What Should I Do?
Our Non-Traded Real Estate Investment Trust Attorneys Represent Retail Investors, Including Seniors and Retirees
Shepherd Smith Edwards and Kantas represent investors from all walks of life who sustained significant portfolio losses due to the bad advice or misconduct of their financial advisors. Over the years, we have helped thousands of clients, including retirees and senior investors, to collectively recover many millions of dollars from their broker-dealers and investment advisers in arbitration, mediation, or litigation.
In a recent broker fraud lawsuit, our client, a North Carolina retiree and widow, is seeking up to $500K in damages from brokerage firm Cambridge Investment Research after her financial advisor, Michael Paul Quirk, allegedly unsuitably recommended that she invest her savings in non-traded real estate investment trusts (non-traded REITs). These are illiquid, privately traded investments that were inappropriate for this claimant from the start given her novice level of investing experience.
Non-traded REITs, which are private placements, should only be marketed and sold to experienced, accredited investors. There is no reason why this older retiree should have been marketed and sold these risky investments when there were so many other more appropriate trading options available given her investing goals, age, and low risk tolerance level.
Unfortunately, because of the high commissions that brokers can earn from private placements, this can make it easy for them to overlook customers’ best interests. Now, this North Carolina senior investor is alleging unsuitability, broker fraud, negligence, misrepresentations and omissions, and other claims in her FINRA lawsuit.
Why You Should Consider Suing Your Brokerage Firm Over Your Non-Traded REIT Losses
If your broker’s negligent or wrongful actions placed you in investments that were unsuitable for you, this may be grounds for an investment loss recovery claim against your brokerage firm. If you do have grounds for a securities lawsuit, most clients need to file their claim in Financial Industry Regulatory Authority (FINRA) arbitration.
It is important to note that many investors, in an effort to avoid legal proceedings, will go directly to their broker-dealer to try to resolve this type of dispute. That is a bad idea especially as most brokerage firms will often deny responsibility and may even try to stonewall your efforts.
This is just one of the many reasons why you should work with seasoned non-traded REIT loss lawyers who can protect your legal rights, advocate for your best interests, and fight for your financial recovery.
Representing Investors Who Have Been The Victims of Broker Misconduct For Over 30 Years
At Shepherd Smith Edwards and Kantas (investorlawyers.com), we understand the devastating impact of losing your life savings. It is one of the reasons we have dedicated our practice to representing investors. With over a combined 100 years’ worth of experience in securities law and the securities industry, our trusted elder financial abuse attorneys have the knowledge and resources to go after even the largest Wall Street firms.
When you work with us, you are retaining our entire investment loss recovery law firm to fight for you. Not only will you receive quality legal representation, but also, rest assured that we will provide you with personalized attention. Read our client reviews.
More than 90% of investors we have helped have received full or partial financial recovery for their losses.
How To Contact Our Savvy Non-Traded REIT Fraud Attorneys
Call our team of Non-Traded REIT Fraud Attorneys today at (800) 259-9010 today or reach out to us online.