NEXT Financial Group

Our Investment Law Attorneys Uphold Your Rights

NEXT Financial Group is an independent broker-dealer providing investment services focused on retirees and baby boomers. NEXT Financial, operating as a subsidiary of NEXT Financial Holdings, Inc., is entirely owned and managed by its representatives and employees. Founded in 1998, NEXT Financial is headquartered in Houston, TX. In 2009, the company was fined $1 million by FINRA for its failure to properly supervise a number of client accounts and over 100 branch managers.

High Amount of Disciplinary Fines in Recent Years

In the last two years, NEXT Financial has been burdened with large fines by the Financial Regulatory Authority (FINRA) for various reasons, all of which should seem problematic to a potential or current investor. In 2013, for example, they were fined $250,000 for failing to retain/monitor correspondence between brokers and investors. Email retention is vital for accountability purposes; as most interaction between representatives and clients is electronic, emails are often the clearest and strongest way that firms and regulatory bodies can oversee and investigate fraudulent or negligent transactions and habits.

In 2014, two separate disciplinary fines were levied against NEXT Financial. One fine amounted to $88,000 for failing to supervise brokers effectively. The second fine, which amounted to $265,000, was for trading agency securities at “unfair or unreasonable” prices. At its heart, this was a fine for being dishonest. In addition to the punitive fine, FINRA required NEXT to pay $177,000 to the investor they had defrauded.

Helping Recover Losses Caused by Investment Misconduct

As a FINRA-licensed firm, NEXT Financial Group has a legal obligation to supervise their brokers and provide transparent, accurate records of their activities. Both of these measures are necessary for a healthy, equitable financial industry. If an unethical broker is unsupervised, they will eventually cause their clients significant losses. For this reason, FINRA has made NEXT Financial legally liable for any damages caused by their brokers. That means you have the right to file a claim against NEXT Financial for the negligence of their representatives, even if that representative no longer works for NEXT Financial Group.

Meyer Wilson investment fraud attorneys have the experience and skill to help you reclaim your financial assets. We recovered $350 million for our clients. No matter the size or history of the investment firm, we can make sure your voice is heard in court, arbitration, or negotiation of any kind. While FINRA allows you the right to file claims against negligent firms, it’s our role as investment fraud lawyers to help you bring those claims to bear, recovering what is rightfully yours and bringing justice to negligent behavior.

To determine if you have a case against NEXT Financial Group, contact us today for a free case evaluation. We will not let any financial institution get away with fraud or negligence.

The Meyer Wilson Way

Results-Focused Representation
  • More than $350,000,000 Recovered
  • Voted Best Lawyers in America┬« for over Ten Years Running
  • David Meyer is the Immediate Past-President of Public Investors Advocate Bar Association (PIABA)
  • Over a Thousand Investor Claim Cases Since 1999
  • Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
  • Deep Bench of Skilled Attorneys and Staff Members

We Recover Investment Losses

Helping You Take Back What Is Yours
  • Jury Verdict Won Against Prudential Securities $262 Million
  • Recovered for 100-Year Old Widow $30 Million
  • Recovered in Retirement Losses $10 Million
  • Recovered for a Large Group of Individual Investors $6.5 Million
  • Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
  • Recovered for Elderly Ponzi Scheme Victim $3.2 Million
  • Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
  • Recovered for 35 Families in Northeast Ohio $3.1 Million
  • Losses Recovered for 20 Retirees $3 Million
  • Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million

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