February 21, 2018 Comments (0) Blog, Current Investigations, Securities Fraud

Matt Neas and Newbridge Securities – Investigation

Matt Neas
(Last Updated On: February 21, 2018)

Concerned about losses investing with Matt Neas and Newbridge Securities?

Have you suffered losses investing with Matt Neas and Newbridge Securities in Boca Raton, FL? If so, the securities attorneys of The White Law Group may be able to help you to recover your losses by filing a FINRA arbitration claim against the brokerage firm.

According to a press announcement, on February 12 a FINRA arbitration claim was filed against Newbridge Securities Corporation on behalf of an Austin, Texas couple who lost a large portion of their life savings in risky exchange traded funds (ETFs).

This claim coincides with recent news about stock-market volatility that caused significant losses in certain ETFs and exchange traded notes (ETNs), including the Proshares Short VIX Short-Term Futures (SVXY) and Credit Suisse VelocityShares Daily Inverse VIX ST ETN (XIV).

According to the announcement, Newbridge Securities broker Matt Neas allegedly recommended that his clients place the bulk of their savings in unsuitably risky ETFs, including leveraged ETFs, short ETFs, and ETFs tied to the VIX (the S&P volatility index).

Risks of ETFs

An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day.

Many of these investments are packaged as a way for investors to avoid the volatility of the market or capture growth in a particular sector.  In reality, some of these structured investments are just ways for the industry to increase revenues generated from the creation, sale, and management of these products.

Matt Neas Barred from Securities Industry

Matt Neas was registered with Newbridge Securitites Corp. in Boca Raton, FL from February 2011 until March 2017. He has multiple customer complaints listed on his BrokerCheck report, and was dismissed from his former employer, Merrill Lynch, Pierce, Fenner and Smith in 2008 for allegations of exercising discretion in a customer’s account without written authorization.

On January 8, 2018, FINRA barred Neas from association with any FINRA member in any capacity for failing to request termination of his suspension.

Brokerage firms have a duty to recommend only investments that are appropriate for the client based on the client’s age, investment experience, net worth, and investment objectives. If they fail to do so, they could be held liable through FINRA arbitration.

If you suffered losses investing with Matt Neas and Newbridge Securities, The White Law Group may be able to help you recover your losses. For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

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