Several investors have contacted Soreide Law Group due to devastating losses in the energy-related fund, Spirit of America Energy Fund (SOAEX). This fund was recommended to investors by their broker/dealers or financial advisors, many of whom had specifically stated to their brokers that they wanted to be placed in conservative investments with a solid retirement portfolio as their goal. However, do to the plunge in energy costs, SOAEX has returned -31.94% over the past year. SOAEX has been public since July of 2014 and has lost over 50% of its value since then.
| This fund is described as: “SOAEX seeks to provide investors long-term capital appreciation and current income. The fund seeks to achieve its investment objective by investing at least 80% of its net assets plus any borrowings in a combination of securities and other assets of energy and energy related companies. SOAEX seeks to achieve its investment objective through diversified exposure to U.S. and non-U.S. securities of energy companies and energy related companies which are companies that are principally engaged in activities in the energy industry.” |
If you've suffered investment losses in SOAEX due to your broker or financial advisor's recommendations, call Soreide Law Group for a free consultation with an attorney: 888-760-6552.
Investors potentially incurred losses because of securities broker Michael Douglass Frost [CRD: 2000358, Colorado Springs, Colorado], based on public information on Financial Industry Regulatory Authority BrokerCheck. Frost worked for LPL Financial LLC from November 29, 2017, to September 18, 2025, and has worked for Cetera Advisors LLC since September 17, 2025. See below to discover […]
Investors potentially incurred losses because of securities broker Chad Anthony Schneider [CRD: 5479256, Greenwood Village, Colorado], according to information disclosed through Financial Industry Regulatory Authority (FINRA) BrokerCheck. Schneider worked for Strong Capital Markets LLC from January 15, 2024, through July 6, 2026. Investors are encouraged to continue reading to find out more about the disclosures […]
Investors might have sustained losses due to financial advisor Ali Reza Memaran-Dadgar [CRD: 5652400, Kirkland, Washington], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Memaran-Dadgar has been registered with Elite Wealth Management Inc. since February 29, 2024. Continue reading to find out more about the client disputes disclosed on his FINRA record. […]
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