What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 19, 2015

Stoltmann Law Offices is investigating Voya Financial Advisors, Transamerica Financial Advisors, Investacorp Inc., J.P. Turner, National Planning Corp and Cetera Investment Services, all broker-dealers fined by the Financial Industry Regulatory Authority for failing to give clients appropriate breakpoint discounts on large sales of nontraded real estate investment trusts (REITs) and business development companies. The fines were as follows:

 

Voya Financial: $325,000

Transamerica: $51,000

Investacorp: $50,000

J.P. Turner: $45,000

National Planning Corp: $30,000 and $16,400

Cetera Investment Services: $30,000 and $17,900

 

The focus of the settlements were the firms’ inability to maintain supervisory systems for the products. The firms did not apply the volume discounts from 2009 until last year. The firms were also ordered to pay restitution to clients who were overcharged.

Disclaimer

The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.

Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

Stoltmann Law Securities Investment Fraud Attorneys