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Investor Lawyers BlogShepherd Smith Edwards and Kantas Investigating Claims From LPL Financial Customers Who Invested in Nontraded REITS and Publicly Traded Property Interval Funds
LPL Blocks Sales of Nontraded Real Estate Investment Trusts and Publicly Traded Property Interval Funds
This week, LPL Financial (LPLA) announced that it had suspended its sales of several nontraded REITs, as well as a number of publicly traded property interval funds. This is because the novel coronavirus (COVID-19) was placing these investments at a higher risk of losses.
In an email to InvestmentNews, LPL EVP of Products and Platforms, Rob Pettman, wouldn’t offer the names of the funds but did note that the broker-dealer hoped to offer them to investors again once the markets had calmed.