If you lost money in a non-traded REIT because of a broker or financial advisor’s recommendation, the investment may deserve closer review—especially if you were told it was safe, income-producing, or easy to sell.
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Depending on the facts, responsibility may extend beyond the individual financial advisor. The brokerage firm, investment advisory firm, bank-affiliated investment program, or other financial institution may also be responsible if it failed to supervise the recommendation, ignored warning signs, or allowed an unsuitable non-traded REIT to be sold.:
Financial advisors and brokerage firms have duties to recommend investments that are appropriate for their customers, disclose important risks and conflicts, and properly supervise the people who give investment advice. When those duties are violated and an investor suffers losses, the investor may have a claim to recover those losses.
Account statements, new-account forms, risk-tolerance information, offering materials, redemption restrictions, commission records, emails, and supervisory records can help show whether the non-traded REIT matched the investor’s financial circumstances and whether the risks and lack of liquidity were adequately explained.
Many investment-loss claims are brought through FINRA arbitration against the financial advisor, brokerage firm, or both. Depending on the facts, claims may involve unsuitable recommendations, misrepresentations, excessive trading, failure to supervise, breach of fiduciary duty, or other misconduct. In some situations, claims may also be pursued in state or federal court.
The right path depends on how the investment was sold, who recommended it, the agreements governing the account, and the deadlines that apply. A careful review of the account records and communications is often the first step in determining whether a recoverable claim exists.
Mazer Law Firm focuses on representing investors who have suffered losses because of financial advisor misconduct, unsuitable recommendations, excessive risk, misleading investment advice, and failures by brokerage firms to supervise their representatives. Attorney Glenn Mazer brings the perspective of a former broker and investment adviser to the evaluation of investment-loss claims
If you lost money in a non-traded REIT, Mazer Law Firm can review what you were told, whether the investment was suitable for you, and whether the broker or brokerage firm may be responsible. Speak directly with Attorney Glenn Mazer about what happened.
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