Investors Allege Sales Practice Violations Relating To Broker Jeff Meyers’ REIT Sales
Soreide Law Group provides you with the following update regarding securities broker Jeffrey Gerard Meyers (Jeff Meyers) (CRD#: 2192759, Overland Park, Kansas). Notably, six investors filed disputes about Meyers. One of those disputes concerns his actions at Cetera Advisor Networks, while others relate to his activities while working for Park Avenue Securities, QA3 Financial Corp, and JP Turner Company.
Jeff Meyers’ Cetera Advisor Networks Client Alleges Unsuitable Non-Traded REIT
Evidently, Meyers is a securities broker with Cetera Advisor Networks and a financial advisor with Cetera Investment Advisers and Cetera Advisor Networks. It appears that a client disputed Meyers’ sales practices in June 2021. Mainly, they allege that Meyers sold them an unsuitable non-traded real estate investment trust (non-traded REIT). Because of this, they asked for compensation. However, Cetera Advisor Networks denied this dispute in October 2021.
In general, suitability concerns risk tolerance, investment objectives, financial status, and other essential information about investors. Critically, non-traded REITs carry unique risks, including illiquidity. Supposedly, the client in this dispute invested in Hospitality Investors Trust Inc., formerly known as American Realty Capital Hospitality Trust. Evidently, Hospitality Investors Trust filed for Chapter 11 bankruptcy this year due to the decline in business from the pandemic, and it aims to restructure approximately $1,300,000,000 in unsecured debt.
Client Of JP Turner Alleges Unsuitable Recommendations In Dispute About Meyers
It appears that Meyers worked for JP Turner Company from 2011 to 2015. A client of JP Turner alleged in an October 2020 dispute that Jeff Meyers provided unsuitable advice. Supposedly, this caused the client to experience losses on alternative investments, including non-traded REITs. This matter is ongoing.
QA3 Financial Clients Allege Misrepresentation By Jeff Meyers
Notably, in the third dispute on Jeff Meyers’ BrokerCheck record, a client of QA3 Financial alleges misrepresentation relating to Provident Shale, resulting in damages. However, the securities firm denied this dispute. And the fourth dispute comes from a QA3 Financial Corp client regarding Provident Shale. Allegations in this dispute include negligence, breach of fiduciary duty, breach of contract, and misrepresentation. It seems that QA3 denied this dispute.
Park Avenue Securities Client Alleges Breach Of Fiduciary Duty
Evidently, the first dispute on Jeff Meyers’ record comes from a Park Avenue Securities client. The lawsuit alleges breach of contract, breach of fiduciary duty, violation of securities laws, and misrepresentation concerning variable life insurance. Supposedly, Meyers made an unsuitable sale of this policy, which resulted in damages for the client. To resolve this matter, Park Avenue Securities agreed to pay the client $60,000.
Losses By Investing With Jeff Meyers?
Evidently, securities broker Jeff Meyers denies allegations of sales practice violations. Have you experienced investment losses by interacting with this broker? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered substantial compensation for US clients who have experienced losses from their securities brokers and financial advisors.