Stoltmann Law Offices is investigating Cetera Advisors in connection with their sales of non-traded real estate investment trusts (REITs) and business development companies (BDCs). The scope of our investigation includes whether Cetera Advisors made suitable recommendations related to non-traded REITs and BDCs, whether adequate disclosures were made of the fees, costs and risks of these investments and whether the high commissions paid to Cetera Advisors resulted in conflicts of interest. The Financial Industry Regulatory Authority (FINRA) is investigating Cetera, and this comes after new regulations related to valuation disclosure requirements go into effect April 11 of this year. Those regulations will require firms to be more transparent through greater disclosure concerning non-traded REITs and BDCs on account statements, specifically. BDCs and non-traded REITs tend to be extremely speculative and risky investments and are not suitable for all investors. A broker must take into account an investor’s age, net worth, portfolio and investment objectives before recommending a security. If he does not, his investment firm can be held liable for losses because the firm did not supervise him properly. The REITs and BDC investments Cetera allegedly sold include:
America Realty Capital Properties (Vereit);
Cole Capital REITs;
CNL Corporate Capital Trust;
Franklin Square Energy and Power Fund;
Griffin Capital;
Northstar Real Estate Income; and
Sierra Income Corporation
If you invested in any of these products, and would like to speak to an attorney in our Chicago-based securities law offices for a free consultation, please call 312-332-4200 today. Attorneys are standing by. There is no obligation and we take cases on a contingency fee basis only, so we only make money if you recover yours. Please call today as time is of the essence with these cases.
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