Madison Avenue Broker Noel Vincent Allegedly Gave Poor Advice, Caused Investors' Losses
Swarms of investors have filed disputes against securities broker Noel Ray Vincent (CRD#: 1370987, Southfield, Michigan). Namely, FINRA BrokerCheck shows an astounding 20 investor disputes involving the securities broker, who worked for Madison Avenue Securities from 2009 to 2018 and who worked for Ele Wealth Advisors in 2018. Namely, these disputes suggest that Vincent made unsuitable recommendations and misrepresented securities, ultimately causing losses for clients. Here’s more on some of the recent disclosures which strongly suggest that Vincent is a liability as a securities broker.
Madison Avenue Securities Client Indicates Noel Vincent Gave Bad Advice On UDF IV
Evidently, on July 27, 2020, Madison Avenue Securities received notice of a FINRA Arbitration Action about Noel Vincent. Namely, the client contested Vincent’s recommendations of United Development Funding IV. Supposedly, these failed investments caused the client to experience losses. For this reason, the client demanded compensation from Vincent or Madison Avenue Securities in this ongoing matter.
Vincent Allegedly Ignores Due Diligence On Private Placements
Apparently, a second Madison Avenue Securities client brought a lawsuit on April 27, 2020. First of all, the client alleged that Noel Vincent failed to conduct due diligence. Secondly, the securities broker supposedly made unsuitable recommendations and over concentrated the client in alternative investments. Thirdly, the client suggested that by selling the alternative investments, Vincent violated FINRA rules. Because of this, the client asked for $400,000 in compensation to resolve this matter. Evidently, this matter is ongoing.
Investors Capital Corp Indicates That Noel Vincent Concealed Facts About Alternative Investments
A third lawsuit comes from a client of Investors Capital Corp and Madison Avenue Securities on March 4, 2019. In the Statement of Claim, the client alleges Noel Vincent’s concealment and misrepresentation in connection with alternative investments. It is possible that Vincent lied to the client and hid information about risks. Supposedly, Vincent also breached a fiduciary duty, placing his interests before the client’s interests. It seems that the client was deceived as well. Consequently, Investors Capital Corp paid the client $25,000 to settle; Madison Avenue Securities paid $10,000 in addition.
Vincent Supposedly Causes Investor Losses On Real Estate Security By Breaching Fiduciary Duty
Evidently, a client of Investors Capital Corp brought a lawsuit about Noel Vincent on November 1, 2018. Allegedly, Vincent failed to act in the client’s best interests in connection with a real estate security transaction. It appears that Vincent’s misrepresentations and omissions paved the way for the client to invest in bad securities. For this reason, Investors Capital Corp made a $60,000 payment to the client to settle, and Madison Avenue Securities paid another $12,000.
Did Securities Broker Noel Vincent Sell You Bad Investments?
Have you experienced losses by investing with Noel Vincent? 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 millions of dollars for clients who have incurred losses due to misconduct of securities brokers and financial advisors.
