Contact Us If You Have Lost Money Investing with Sheaff Brock Investment Advisors, LLC
Silver Law Group is investigating potential FINRA arbitration claims against TD Ameritrade on behalf of investors who suffered investment losses with Sheaff Brock in stock options as a result of investments managed by Sheaff Brock.
A class action alleges TD Ameritrade customers utilized the investment advisory services of Sheaff Brock through TD Ameritrade’s AdvisorDirect program and suffered significant losses in a risky put income options strategy.
TD Ameritrade AdvisorDirect Program
Through its AdvisorDirect program, TD Ameritrade introduces its high-net-worth customers to third-party investment advisors. TD Ameritrade receives a solicitation fee if the customer then uses the investment advisors’ services and receives up to 25% of the ongoing investment management fee that the investment advisor charges. The firm also collects commissions for all trades that the investment advisor makes in the customer’s TD Ameritrade account. TD Ameritrade and its advisors were financially incentivized to recommend Sheaff Brock to its investors with accounts at TD Ameritrade.
TD Ameritrade allegedly introduced customers to investment advisor Sheaff Brock. Sheaff Brock and TD Ameritrade recommended that the customer follow a strategy selling put options to generate income. Although selling puts can be among the riskiest forms of options trading, Sheaff Brock and TD Ameritrade appear to have represented to the customer that the put income strategy was conservative.
Did You Lose Money with Sheaff Brock?
If you were a TD Ameritrade customer and lost money in a Sheaff Brock options trading program, you may have certain legal rights that require your immediate attention. Cases of this nature are frequently handled through private FINRA arbitration. Investors should understand their rights to pursue claims through class action or arbitration. Such cases must be brought timely or you may be prohibited from pursuing your claims.
Call an Investment Fraud Attorney Today
Silver Law Group represents the interests of investors who have been the victims of investment fraud. If have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.