At the end of 2012, The Enforcement Section of the Massachusetts Securities
Division filed a complaint against LPL Financial, LLC that accused the
company of violating securities laws and acting unethically in relation
to its non-traded real estate investment trusts (REITs). The official
complaint was filed in response to multiple customer complaints, and it
alleges that the company’s representatives violated state securities
laws and company regulations.
The investment fraud lawyers with Meyer Wilson are currently investigating
claims and taking cases related to
LPL Financial, LLC. We encourage REIT investors to reach out to us if they believe they have
suffered losses due to misleading investment information.
What Is a Non-Traded REIT?
real estate investment trust (REIT) is a real estate investment through a corporate entity. A non-traded REIT
is not traded on a public exchange, and it may be difficult to determine
the actual value of the investment. The Financial Industry Regulatory
Authority (FINRA) has previously issues warnings to investors about these
sometimes complicated, confusing, and illiquid investments.
Why Are the LPL Financial REITs Being Investigated?
REITs can be tricky even for experienced investors, and these investments
are sometimes accompanied by a host of issues, including high fees, misleading
literature, tax complications, and liquidity concerns. Unfortunately,
some financial professionals still push these complicated investments
on investors who do not understand the investment or are lured in by the
misleading appearance of safe and high returns. Some representatives of
LPL Financial, LLC allegedly sold REITs to investors in violation of concentration
and suitability regulations, and the company has been accused of a failure
to supervise its representatives concerning REIT sales.
How to Get Help
If you believe that your broker or financial advisor with LPL Financial,
LLC recommended an unsuitable REIT investment, contact the investment
fraud lawyers with Meyer Wilson by phone for a FREE legal consultation
to talk about your circumstances. We have successfully represented hundreds
of clients nationwide in stockbroker mediation, arbitration, and litigation,
and we would be happy to review your potential claim against LPL Financial
and provide further direction.