There was a FINRA arbitration filed against Raymond James Financial for alleged over-concentration into risky oil and gas Canadian Royalty Trust stocks. The case alleges that the investors, a retired man in his 60s, and his mother who is 90 years-old, had brokerage accounts with Raymond James Financial, Inc. Their financial advisor recommended that they invest in risky oil and gas, Canadian Royalty Trust stocks, also known as Canroys. These stocks were risky and not be suitable for the conservative, retired investor which caused them serious losses. The Canroys that were recommended were Pengrowth, Penn West and Enerplus.
Your stockbroker or financial advisor may have misrepresented the risks involved with these Canroys, or recommended these risky investments to someone who may have not been suitable due to their conservative portfolio.
Soreide Law Group has represented clients nationwide. If you or a family member have experienced a loss through the over-concentration of risky oil and gas stocks, call a Securities Arbitration Lawyer for a free consultation on how to potentially recover your losses. To speak with an attorney, call 888-760-6552, or visit www.securitieslawyer.com.
Soreide Law Group is investigating potential investor claims involving RAD Diversified REIT Inc., specifically focusing on whether brokers or financial advisors improperly recommended this non-traded real estate investment trust despite mounting red flags. RAD Diversified REIT raised investor funds to acquire and manage real estate assets nationwide, positioning itself as an accessible way for individuals […]
Investors apparently complained about securities broker Richard James Carlesco Jr. [CRD: 2135988, Liverpool, New York], given the disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Carlesco worked for IBN Financial Services Inc. from October 24, 2000, to the present, and later registered with Cambridge Investment Research Inc. and Cambridge Investment Research Advisors Inc. beginning April […]
Investors potentially experienced sales practice violations by securities broker Steven Wallace Schmitt [CRD: 4486457, Paramus, New Jersey], according to publicly available information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Schmitt worked for Raymond James Associates Inc. since November 9, 2022, and previously worked for Morgan Stanley from October 7, 2016, to November 29, 2022. […]
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