Articles Posted in Alternative Investment

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Currently financial advisor Arnold Mcdonald (Mcdonald), currently employed by brokerage firm Mcdonald Partners LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $425,900.00 on February 21, 2024.

Alleged failure to conduct due diligence on a private placement and unsuitability.

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Previously financial advisor Thomas Mcdonald (Mcdonald), previously employed by brokerage firm Mcdonald Partners LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $425,900.00 on February 21, 2024.

Alleged failure to conduct due diligence on a private placement and unsuitability.

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Previously financial advisor Rodney Dabbondanza (Dabbondanza), previously employed by brokerage firm Coastal Equities, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $50,000.00 on March 20, 2024.

Client alleges that Financial Professional misrepresented the risks associated with REITS and BDCs and that the investments were unsuitable. Activity occurred September 2011 to November 2014.

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Currently financial advisor Cataldo Panici (Panici), currently employed by brokerage firm LPL Financial LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on March 20, 2025.

Claimants allege that between June 2012 and June 2023, representative made unsuitable investments in REITs.

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Currently financial advisor William Bredt (Bredt), currently employed by brokerage firm Raymond James & Associates, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on March 24, 2025.

Client alleges FA recommended an unsuitable private placement investment and misrepresented the returns and risks of the investment.

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Currently financial advisor Alan Levine (Levine), currently employed by brokerage firm LPL Financial LLC has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $99,999.00 on April 02, 2025.

Clients allege that Financial Professional misrepresented the risks associated with REITs and BDCs and investments were overconcentrated and unsuitable. Activity date: May 16, 2012 to June 1, 2016.

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Previously financial advisor Terry Harris (Harris), previously employed by brokerage firm Money Concepts Capital CORP has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $132,000.00 on April 03, 2025.

On or around May 2015, our client purchased units of a Limited Partnership and REITs. The client transferred shares of the REITs to her spouse around September 2018. Spouse has attained an attorney alleging the investment was unsuitable. On April 3, 2025, firm became aware of allegations and intends to settle this matter instead of filing an arbitration claim.

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Previously financial advisor Vincent Bailey (Bailey), previously employed by brokerage firm Berthel, Fisher & Company Financial Services, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint on April 07, 2025.

The claimant alleges that the Firm and representative failed to make a suitable recommendation and over-concentrated claimant’s account in alternative investments and private placements in 2014 & 2015. The claimant further allege that the Firm and representative misrepresented the investments and induced the claimant to retain the investment and cause him to suffer a loss.

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Currently financial advisor Brian Dreier (Dreier), currently employed by brokerage firm Cambridge Investment Research, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $268,000.00 on April 08, 2024.

Claimants allege representative was negligent in recommending that clients should use illiquid REITs for their retirement portfolio. Claimants also allege that representative misrepresented that the investments were safe.

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Currently financial advisor Adam Jacobs (Jacobs), currently employed by brokerage firm Oppenheimer & CO. INC. has been subject to at least 2 disclosable events. These events include 2 customer complaints. According to a BrokerCheck reports most of the recent customer complaints concern either corporate debt securities or alternative investments such as direct participation products (DPPs) like business development companies (BDCs), non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and private placements.  The attorneys at Gana Weinstein LLP have represented hundreds of investors who suffered losses caused by these types of high risk, low reward products.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on April 26, 2024.

Claimants allege they suffered losses in a private placement investment and allege claims for negligence, breach of fiduciary duty, breach of contract, and violations of state securities laws. From 7/2018 – 3/2024

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