Recently, the Financial Industry Regulatory Authority (FINRA) censured and fined Investment Professionals Inc. (IPI) $170,000, for allegedly failing to supervise nine of its brokers. FINRA stated that these brokers were dually registered at Investment Professionals Inc., and at other firms which were not connected to IPI.
Investment Professionals Inc., or IPI, has been based in San Antonio, Texas since 1992. IPI has over $8.2 billion in assets under their management. The nine brokers reportedly managed over $500 million, but were not identified by FINRA individually.
FINRA states that allegedly, Investment Professionals Inc. failed to report trades made by the brokers for clients of advisory firms and failed to maintain a supervisory system to comply with securities industry rules. FINRA also found that IPI allegedly failed to preserve securities related emails that had been sent and received by five brokers in a Pennsylvania branch.
If you were a client of Investment Professionals Inc. (IPI), and you suffered financial losses due to the actions or recommendations of their broker/dealers, call Soreide Law Group for a no-cost consultation with an attorney on the possibility of recovering you investment at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA. We operate on a contingency fee.
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