Royal Alliance Associates, Inc. is a securities firm that operates out of New York but has offices throughout the United States. There are four office locations in Ohio alone, including two Columbus locations, one Mayfield Heights location and another in Cincinnati. Royal Alliance is a subsidiary of AIG Advisor Group, Inc.
Royal Alliance is a relatively new investment firm, founded in 1989. This securities firm offers a variety of different products, such as mutual funds, variable annuities, insurance and some alternative investments such as KBS Realty and American Realty Capital.
If you invested your hard-earned money with Royal Alliance Associates, Inc. and lost a substantial amount of money, an investment fraud lawyer at Meyer Wilson may be able to help you. Our firm exclusively pursues investor claims and class actions on behalf of investors who suffered financial losses through investment misconduct.
Royal Alliance Associates Investment Misconduct
In 2006, NASD fined Royal Alliance Associates, Inc. for $250,000 for industry violations and ordered the investment firm to pay approximately $1.6 million in restitution to its clients (plus interest). The violations concerned clients of Royal Alliance Associates who had "purchased shares of mutual funds during the period of January 1, 2002 through December 13, 2006."
According to FINRA,
"Enforcement actions were brought against these securities firms because they failed to have adequate supervisory systems and procedures to identify opportunities for investors to purchase Class A mutual fund shares at net asset value (NAV), or without a front-end sales charge. Each firm was ordered to provide remediation to certain eligible clients who qualified for, but did not receive the benefit of available NAV Transfer Programs."
Investors who suffered losses because of Royal Alliance's failure to supervise and other investment misconduct could qualify for the remediation plan – money paid out of the $1.6 million settlement. However, individual investors who qualified and received a settlement could still pursue arbitration or mediation for additional damages against Royal Alliance Associates.
Securities Fraud Lawyers Help You Recover Your Losses
If you lost a substantial amount of money, $75,000-$100,000 or more, by investing with Royal Alliance Associates, then an investment fraud attorney at Meyer Wilson may be able to help you. Our law firm pursues investor claims and class actions – it's all we do. We have been included in the list of Best Lawyers® and have won millions of dollars in verdicts and settlements on behalf of investors.
Meyer Wilson has the experience you need to help you with an investor claim in state or federal court, in arbitration through FINRA, arbitration through the American Arbitration Association (AAA) and private arbitration. We will even represent international clients who have claims against U.S. brokerage firms through FINRA. Again, if you suffered significant financial losses after investing with Royal Alliance Associates, Inc. contact a securities fraud lawyer at Meyer Wilson today for a free consultation.