Investor Alert! Madison Avenue Securities and Investors Capital Corp investors have come forward with serious allegations against securities broker Noel Vincent (CRD#: 1370987, Southfield Michigan). Namely, the Financial Industry Regulatory Authority (“FINRA”) shows that of the 20 disclosures reported on Vincent’s BrokerCheck profile, 18 concern client disputes. Investors brought more than half of those disputes since January 12, 2017. Here is a summary of the disputes against Vincent which suggest that he sold risky and unsuitable alternative investments and was responsible for his client’s losses.
Madison Avenue Securities Client Suggests Noel Vincent Misrepresented Investments
A client of Madison Avenue Securities contested Vincent’s sales practices through bringing FINRA Arbitration #: 19-01997 on July 18, 2019. Namely, the client alleged that Noel Vincent sold unsuitable investments. Apparently, Vincent recommended or sold interests in direct participation programs (DPPs) or limited partnerships (LPs). Not only that, but the client alleged that Vincent misrepresented the investments. Because of this, the client seeks $100,000 in compensation in this ongoing matter.
Vincent Allegedly Gave Bad Advice About Direct Investments
A second Madison Avenue Securities client disputed Noel Vincent’s advice regarding direct investments through filing FINRA Arbitration #:19-01438. Supposedly, the client indicated in this May 22, 2019 matter that Vincent failed to have a reasonable basis to believe that the DPP or LP interests he recommended were suitable for the client. It appears that the client sustained losses because of acting on Vincent’s allegedly bad advice. Evidently, this client’s claim is ongoing.
Investors Capital, Madison Avenue Client Suggests Noel Vincent Breached Fiduciary Duty
Evidently, on March 4, 2019, FINRA Arbitration #: 18-04130 was brought by a client of both Madison Avenue Securities and Investors Capital Corp. First of all, the Statement of Claim suggested that Noel Vincent deceptively and dishonestly hid facts from the client about investments in oil and gas investments and real estate securities. Supposedly, Vincent misrepresented information about the investments too. Allegedly, Vincent also breached a fiduciary responsibility to the client, placing his interests ahead of the client’s interests. Finally, the client alleged that Vincent negligently sold or recommended the alternative investments which the client sustained losses from purchasing. Because of this, the client asked for $100,000 – $500,000 in compensation in this pending matter.
Investors Capital Client Indicates That Vincent Concealed Information About Real Estate Securities
A fourth dispute reported on BrokerCheck comes from an Investors Capital Corp client on October 25, 2018. Evidently, in FINRA Arbitration #: 18-03702, the client alleges concealment of information about real estate security products. It is possible that Vincent intentionally omitted information about risks, liquidity or other drawbacks of real estate security investments. Supposedly, Vincent also negligently misrepresented information and failed to comply with his responsibility as a fiduciary to this client. For this reason, the Statement of Claim alleges damages between $100,000 and $500,000 in this ongoing matter.
The majority of the disputes about Noel Vincent concern his allegedly unsuitable and misrepresented sales of risky alternative investments. Supposedly, clients acted on Vincent’s recommendations and sustained losses from investing in products including United Development Funding III and IV as well as equipment leasing products, real estate securities, and oil and gas securities.
Did Noel Vincent Recommend Unsuitable And Misrepresented Investments To You?
Have you sustained investment losses because of securities broker Noel Vincent? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about 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 suffered losses due to misconduct of brokers and brokerage firms.