Silver Law Group Files FINRA Arbitration Claim Against Arete Wealth Management

Silver Law Group filed a claim against Arete Wealth Management, LLC alleging Arete’s broker recommended numerous unsuitable non-traded REITs and leveraged ETNs and ETFs to our elderly client.

According to the FINRA arbitration complaint, the elderly Claimant entrusted the entirety of her retirement portfolio to Arete Wealth Management and its broker. The broker proceeded to recommend the senior Claimant invest approximately half a million dollars in various illiquid, non-traded REITs. Among other non-traded REITs, the Arete Wealth Management broker recommended the Claimant invest in American Finance Trust, Hospitality Investors Trust, benefit Partners Realty Trust, and FS Energy and Power Fund, according to the FINRA arbitration complaint.

In addition to Arete Wealth Management’s unsuitable recommendations to invest in non-traded REITs, the Arete Wealth Management broker also invested the elderly Claimant’s brokerage account in risky investments such as leveraged ETFs and ETNs, according to the securities arbitration claim. These leveraged ETFs and ETNs are typically meant to be held for no more than one day. The FINRA arbitration complaint alleges the Arete Wealth Management broker held them for far longer than one day – in some cases months. Claimant, according to the securities arbitration claim, lost a significant amount of money in her Arete Wealth Management brokerage accounts.

According to the FINRA arbitration claim, after Claimant closed her brokerage accounts and her broker left, without notice to her, she was assigned a new Arete Wealth Management broker. This broker, according to the complaint, told the elderly Claimant that he would no longer manage the non-traded REIT accounts.

Arete Wealth Management allegedly failed to supervise its broker. Due to Arete Wealth Management’s failure to supervise its broker’s unsuitable recommendations in non-traded REITs and leveraged ETNs and ETFs, among other securities, the elderly Claimant lost a significant amount of her life savings.

Contact Our Firm if You’ve Lost Money Investing with Arete Wealth Management, in Non-traded REITs, or in Leveraged ETNs and ETFs

If you have lost money with Arete Wealth Management, in non-traded REITs, and/or leveraged ETNs and ETFs, you may have a claim to recover some or all of your investment. Contact our firm today to see how we can try to recover your losses. If we don’t recover money for you, you owe us nothing.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.