Articles Tagged with alternative investment attorney

shutterstock_66175306-300x225Current D.H. Hill Securities, LLLP (D.H. Hill) broker Charles Stevens (Stevens) has been subject to four customer complaints and five tax liens.  According to a BrokerCheck report many of the complaints concern alternative investments and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs).  The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In addition, Stevens is subject to massive tax liens totaling hundreds of thousands of dollars.  In March 2017 Stevens disclosed a tax lien of over $202,000.  The fact that a broker cannot manage his own personal finances is material information for a client to consider.  In addition, the types of products clients have alleged were unsuitable are high commission products that may be recommended to generate high profits for the advisor at the expense of the client.

In March 2018 a customer filed a complaint alleging unsuitable recommendations, breach of fiduciary duty, negligence, failure to supervise and breach of contract during period of 2012 to 2017.  The client alleged $150,000 in damages and the claim is currently pending.

shutterstock_20354398-300x200Current Arete Wealth Management, LLC (Arete Wealth) broker Alvery Bartlett (Bartlett) has been subject to three customer complaints.  According to a BrokerCheck report many of the complaints concern alternative investments, private placements, and direct participation products (DPPs) such as non-traded real estate investment trusts (REITs) and oil and gas programs.  The attorneys at Gana Weinstein LLP have extensive experience handling investor losses caused by these types of products.

In March 2018 a customer filed a complaint alleging that the investments purchased between 2003 and 2011 were unsuitable and were misrepresented to him.  The client also alleged that the firm failed to conduct adequate due diligence on the investments and failed to supervise the representative.  The claim is currently pending and alleges damages of $6,637,918.

Our firm often handles cases involving direct participation products, Non-Traded REITs, oil and gas offerings, equipment leasing products, and other alternative investments.  These products are almost always unsuitable for investors.  In addition, the brokers who sell them are paid additional commission in order to hype inferior quality investments which provides a perverse incentives by brokers to create an artificial market for products that no honest advisor would sell.