Nicholas F Taggart

Soreide Law Group has been contacted by former customers of the following broker/financial advisor regarding REIT losses:
NICHOLAS FOULGER TAGGART (Nicholas F Taggart) CRD#: 4353676
At the time of the clients’ alleged losses, Nicholas F Taggart was registered both as an investment advisor and a broker with CETERA ADVISORS LLC of Portland, Oregon, from 02/28/2012 - 10/18/2017.  Taggart is currently registered with IMST DISTRIBUTORS, LLC of St. Louis, Missouri since November of 2017.

According to the former customers, the majority of their losses came from REITs, one of those REITs was the, “HIT REIT” or Hospitality Investors Trust Inc., formerly known as American Realty Capital Hospitality Trust. Hospitality Investors Trust filed for Chapter 11 bankruptcy due to the decline in business from the pandemic, and it aims to restructure approximately $1,300,000,000 in unsecured debt. American Realty Capital Hospitality Trust, Inc. (“HIT REIT”) was formed in July of 2013 and is a non-traded real estate investment trust which primarily invested in hotel properties. It has been alleged that several clients were recommended purchasing this REIT through Nicholas F Taggart.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, Nicholas F Taggart, has been in the securities industry for 18 years and has been listed with 7 firms. Taggart has 2 disclosures on his FINRA CRD report.  Both disclosures are “Customer Disputes.”

There a dispute dated June 14, 2021, with the allegations, “Claimant alleges that they were recommended to invest in high risk and high commissioned REIT.”  This dispute settled for $7,500.00.
On June 30, 2021, there was a dispute filed that is pending following allegations of, “Claimant alleges unsuitable alternative investment recommendations. Individual is not a party to the arbitration.” The damage amount requested is $100,000.00.
Nicholas F Taggart denies the allegations in both of these “Customer Disputes.”
If you’ve experienced REIT losses due to the actions or recommendations of the broker/financial advisor, Nicholas F Taggart, formerly of CETERA ADVISORS LLC of Portland, Oregon and currently with IMST DISTRIBUTORS, LLC of St. Louis, Missouri, contact Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee and represents our clients nationwide before FINRA.