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?
A 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.