Posts tagged ‘Financial Advisor’
Commodities and Futures Fraud Attorney
Have you suffered losses in a commodities or futures fraud scheme or improper investment? If so, the commodities and futures fraud attorneys of The White Law Group may be able to help.
The White Law Group represents investors who have been defrauded by their financial professional in all types of commodities or futures investment matters.
The futures markets include, but are not limited to:
- Forex
- Monex
- Currency futures
- Cocoa futures
- Grain futures
- Heating oil futures
- Gold futures
- Stock futures
- Interest rate futures
- Sugar futures
- Orange juice futures
- Natural gas futures
- Propane gas futures
- Crude oil futures
- Platinum futures
- Silver futures
- Cattle futures
- Dairy futures
The commodities markets include, but are not limited to:
- Corn
- Oats
- Rough rice
- Soybeans
- Rapeseed
- Wheat
- Milk
- Cocoa
- Coffee
- Live Cattle
- Pork bellies
- Crude Oil
- Ethanol
- Natural Gas
- Heating Oil
- Gold
- Platinum
- Silver
- Copper
- Lead
- Zinc
- Tin
- Aluminum
- Nickel
- Cobalt
Although commodities and futures investing is complex and risky, there are many unscrupulous trading firms that solicit investments from the general public.
The White Law Group represents investors in claims against these NFA and CFTC registered firms. The firm handles various types of commodities and futures fraud cases, including but not limited to:
- Conversion of funds
- Churning or excessive trading of futures and commodities accounts
- Unauthorized trading
- Various types of futures and commodities trading violations
- Failure to supervise a NFA or CFTC registered representative
- Unsuitability
- Failure to execute trades
- Misallocation of trades
- Bucketing or trading against the customer
- Guaranteed winner (including solicitation via improper marketing material)
- Improper use of margin investing
- Failure to adequately disclose risks of futures or commodities investing
- Breach of fiduciary duty
The White Law Group handles futures and commodities cases before all of the major self-regulatory organizations, including the National Futures Association (NFA) and Commodities and Futures Trading Commission (CFTC), and the cases include investments made on all of the major exchanges – Chicago Board of Trade (CBOT), Chicago Mercantile Exchange (CME), New York Board of Trade, New York Mercantile Exchange, and Philadelphia Board of Trade.
With its office located in Chicago, one of the major national hubs of futures and commodities trading, The White Law Group is in a unique position to represent those who have been defrauded by their financial professional in commodities and futures investments, and the firm represents clients throughout the country.
In addition to practicing as a securities attorney, Mr. White, the managing partner of The White Law Group, has also worked on the floor of the Chicago Mercantile Exchange in the Live Cattle Options Pit. His financial and legal background is essential in evaluating potential commodities and futures fraud claims.
If you have questions about a futures or commodities investment you made, the commodities and futures fraud attorneys of The White Law Group may be able to help. For a free consultation, please call the firm’s Chicago office at 312/238-9650.
The White Law Group, LLC is a national commodities and futures fraud, commodities arbitration, investor protection, and commodities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.
For more information on The White Law Group, please visit the firm’s website at www.whitesecuritieslaw.com
The Firm Continues to Closely Monitor the Sale of REITs
Brokerage firms have a fiduciary duty to recommend investments that are appropriate for the investor in light of the investor’s age, net worth, investment experience, and investment objectives. One of the types of investments we often see abused, are REITs (real estate investment trusts) – likely due to the high commission REITs generally pay to the financial professional that sells them. The following is a list of some of the REITs whose sale we are closely monitoring:
Acadia Realty Trust, Agree Realty Corporation, Alexandria Real Estate Equities, Inc., American Assets Trust, American Campus Communities, Inc., American Capital Agency Corp., American Realty Capital Healthcare Trust, American Realty Capital New York Recovery REIT, Inc., American Realty Capital Properties, Inc. , American Realty Capital Trust, American Tower Corporation, Americold Realty Trust, Anderson-Tully Company, Annaly Capital Management, Inc., Apartment Investment & Management Company, Apollo Commercial RE Finance, Inc., Apollo Residential Mortgage Inc., Apple REIT Eight, Inc., Apple REIT Nine, Inc., Apple REIT Seven, Inc., Apple REIT Six, Inc., Arbor Realty Trust, Inc., Archstone, ARMOUR Residential REIT, Ashford Hospitality Trust, Inc., Associated Estates Realty Corporation, AvalonBay Communities, Inc., Behringer Harvard Multifamily REIT I, Behringer Harvard Opportunity REIT I, Behringer Harvard Opportunity REIT II, Behringer Harvard REIT I, Inc., Berkshire Income Realty BioMed Realty Trust, Inc., Blackstone Real Estate Advisors, Boardwalk REIT, Boston Properties, Inc., Brandywine Realty Trust, BRE Properties, Inc., Broadstone Net Lease, Inc., Brookfield Office Properties, Camden Property Trust, Campus Crest Communities, Capital Trust, Inc., CapLease, Inc., Capstead Mortgage Corporation, Care Investment Trust, Inc., Carey Watermark Investors Incorporated, CBL & Associates Properties, Inc., Cedar Shopping Centers, Inc., Chatham Lodging Trust, Chesapeake Lodging Trust, Chimera Investment Corporation, CNL Lifestyle Properties, Inc., CNL Macquarie Global Growth Trust, Inc., Cogdell Spencer Inc., Cole Credit Property Trust II, Inc., Cole Credit Property Trust III, Inc., Cole Credit Property Trust, Inc., Colonial Properties Trust, Colony Financial, Inc., CommonWealth REIT, CoreSite Realty Corporation, Corporate Office Properties Trust, Corporate Property Associates 15, Corporate Property Associates 16 – Global, Inc., Corporate Property Associates 17 – Global, Inc., Cousins Properties Incorporated, CREXUS Investment Corp., Cypress Sharpridge Investments, Inc., DCT Industrial Trust Inc., Derwent London Plc, Developers Diversified Realty Corporation, DiamondRock Hospitality Company, Digital Realty Trust Inc., Duke Realty Corporation, DuPont Fabros Technology, Inc., EastGroup Properties, Inc., Education Realty Trust, Inc., Electric Infrastructure Alliance of America, LLC, Entertainment Properties Trust, Equity Lifestyle Properties, Inc., Equity One, Inc., Equity Residential, Essex Property Trust, Inc., Excel Trust, Inc., Extra Space Storage, Inc., Fair Value REIT-AG, Federal Capital Partners, Federal Realty Investment Trust, FelCor Lodging Trust Incorporated, First Industrial Realty Trust, Inc., First Potomac Realty Trust, First REIT of New Jersey, Forest Capital Partners LLC, Forest City Enterprises, Inc., Franklin Street Properties Corp., Gables Residential Trust, General Growth Properties, Inc., Getty Realty Corp., Gladstone Commercial Corporation, Glimcher Realty Trust, Global Logistic Properties, Government Properties Income Trust, Gramercy Capital Corp., Hammerson PLC, Hatteras Financial Corp, HCP, Inc., Health Care REIT, Inc., Hersha Hospitality Trust Highwoods Properties, Inc., Hines Global REIT, Inc, Hines Real Estate Investment Trust, Inc., Home Properties, Inc., Hospitality Properties Trust, Host Hotels & Resorts, Inc., Hudson Pacific Properties, Inc., Independence Realty Trust, Inland American Real Estate Trust, Inc., Inland Diversified Real Estate Trust, Inc., Inland Real Estate Corporation, Inland Western Retail Real Estate Trust, Inc., INREIT Real Estate Investment Trust, Invesco Mortgage Capital Inc., IStar Financial Inc., Japan Retail Fund Investment Corporation, KBS Legacy Partners Apartment REIT, Inc., KBS Real Estate Investment Trust I, Inc., KBS Real Estate Investment Trust II, Inc., KBS Strategic Opportunity REIT, Inc., Kenedix Realty Investment Corporation, Kilroy Realty Corporation, Kimco Realty Corporation, Kite Realty Group Trust, Land Securities Group PLC, LaSalle Hotel Properties, Lexington Realty Trust, Liberty Property Trust, LTC Properties, Inc., MAA, Macerich, Mack-Cali Realty Corporation, Macquarie CNL Global Income Trust, Inc., MCR Development LLC, Medical Properties Trust Inc., MFA Financial, Inc., MHI Hospitality Corporation, Monmouth Real Estate Investment Corporation, MPG Office Trust, Inc., National Retail Properties, Inc., Newcastle Investment Corporation, NorthStar Realty Finance Corporation, Omega Healthcare Investors, Inc., One Liberty Properties, Inc., Pacific Office Properties Trust, Parkway Properties, Inc., Pebblebrook Hotel Trust, Pennsylvania Real Estate Investment Trust, Phillips Edison – ARC Shopping Center REIT, Piedmont Office Realty Trust, Inc., Plum Creek Timber Company, Inc., Post Properties, Inc., Potlatch Corporation, Prologis, PS Business Parks, Inc., Public Storage, RAIT Financial Trust, Ramco-Gershenson Properties Trust, Rayonier Inc., Realty Income Corporation, Regency Centers Corporation, Resource Capital Corp., RioCan, RREEF America REIT II, Inc., RREEF America REIT III, Inc., Sabra Health Care REIT, Inc., Saul Centers, Inc., SEGRO PLC, Senior Housing Properties Trust, Shaftesbury PLC, Simon Property Group, Inc., SL Green Realty Corp., Societe De La Tour Eiffel, Sovran Self Storage, Inc., Spirit Finance Corporation, Stag Industrial, Inc., Starwood Property Trust, Inc., Steadfast Income REIT, Strategic Hotels & Resorts, Inc., Summit Hotel Properties Inc., Sun Communities, Inc., Sunstone Hotel Investors, Inc., Supertel Hospitality, Inc., Tanger Factory Outlet Centers, Inc., Taubman Centers, Inc., The Community Development Trust, Thomas Properties Group Inc., UDR, Inc., UMH Properties, Inc., Urstadt Biddle Properties, Inc., U-Store-It Trust, Ventas, Inc., Verde Realty, Vornado Realty Trust, W. P. Carey & Co. LLC, Washington Real Estate Investment Trust, Watson Land Company, Weingarten Realty Investors, Wells Real Estate Investment Trust II, Inc., Wells Timberland REIT, Inc., Wereldhave USA, Inc., Westfield, LLC, Weyerhaeuser, Winthrop Realty Trust
If you have invested in any of these REITs and are concerned about your investment, the securities attorneys of The White Law Group may be able to help. For a free consultation, please call the firm’s Chicago office at 312/238-9650.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at www.whitesecuritieslaw.com.
The Difficult Balance Between a Financial Advisors’ Fiduciary Duty and Pushing Their Own Products
Andrew Haigney recently wrote an interesting article for businessinsider.com where he called investment advice “one of the greatest scams of our time.”
His motivation for writing his article was to expand on the theme of Yale University’s Chief Investment Officer David Swensen’s August NY Times Opinion piece about mutual funds where he called for an increase in investor education and “call[ed] for retail brokers to be held to a fiduciary standard.” Swensen expressed his concern that retail brokers selling mutual funds failed to show investors how the funds they were selling matched up against low-cost index funds.
Haigney feels the problem of fiduciary duty to the client versus a desire to sell products that are favorable to the broker’s firm and bank accounts extends beyond just mutual funds. He says that the problem is that “Investment advice has become a ‘product,’ and investment advisers steer prospective clients right into their own products.” This is a huge issue according to Haigney because “the point of sale” is where investors get their investment information and advice. He cites a 2008 SEC study that “found that 95 percent of investment advisory firms with individual clients also provide proprietary portfolio management services for individuals” and says, “firms make their money through portfolio management services, not dispensing investment advice.”
A firm giving investment advice has a fiduciary responsibility to give advice in the best interest of the client. But, as Haigney notes, “how often at the end of a sales presentation do you think investment advisors…tell a potential client that they may be better off going to a larger firm with more experience…or, as Mr. Swensen suggests, explain to a prospective lucrative client that their investment objectives can be better met by investing in a low cost index fund?” Haigney makes the obvious point that it is extremely difficult to fulfill fiduciary obligations and please your employer when the “name of the game in asset management is to get money in the door and start generating fees.”
Under securities regulations, registered advisors and brokers are required to uphold a fiduciary standard and advise their clients to invest in products that are suitable for each investors’ unique circumstances. If a financial professional fails in these duties to their clients, those failures may be actionable under current securities regulations and the investors may be able to recover losses.
For the full text of Mr. Haigney’s article visit http://www.businessinsider.com/investment-advice-is-one-of-the-greatest-scams-of-our-time-2011-9
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at www.whitesecuritieslaw.com
A List of the Biggest “Fee-only Firms” by Assets Under Management (AUM)
Investmentnews.com recently published a list of the biggest “fee-only firms” on their website. They compiled this list with data from the RIA Database. The full list includes the total amounts of Assests Under Management (AUM) and that is further broken down by discretionary and non-discretionary assets.
The list of firms in order of AUM is as follows:
Genspring Family Offices LLC, Veritable LP, The Mutual Fund Store, Rockefeller Financial, Silvercrest Asset Management Group LLC, Ronald Blue & Co. LLC, Harris myCFO Investment Advisory Services LLC, Everett Harris & Co., BBR Partners LLC, Mercer Global Advisors Inc., Klingenstein Fields & Co. LLC, KLS Professional Advisors Group LLC , Luminous Capital LLC, Palisade Capital Management LLC, Williams Jones & Associates LLC, Aspiriant LLC, Welch & Forbes LLC, Ferguson Wellman Capital Management Inc., Buckingham Asset Management LLC, Gofen and Glossberg LLC, Wetherby Asset Management, Bartlett & Co., Avalon Advisors LLC, Evercore Wealth Management LLC, Cornerstone Advisors Inc., Douglas C. Lane & Associates Inc., Evanson Asset Management LLC, R.M. Davis Inc., Signature Financial Management Inc., Atherton Lane Advisers LLC, Tiedemann Wealth Management LLC, RegentAtlantic Capital LLC, Ballentine Partners LLC, Dearborn Partners LLC, Savant Capital Management Inc., Inverness Counsel LLC, Foundation Resource Management Inc., Northside Capital Management LLC, Capital Investment Counsel Inc., myCIO Wealth Partners LLC , Gresham Partners LLC, Mill Creek Capital Advisors LLC, Creative Planning Inc., Heintzberger Payne Advisors, Homrich Berg, Choate Investment Advisors, RMB Capital Management, Dowling & Yahnke LLC, Bingham Osborn & Scarborough LLC, Brighton Jones LLC, Linscomb & Williams, Balasa Dinverno Foltz LLC, Plancorp LLC, Silver Bridge Advisors LLC, Tolleson Private Wealth Management
For the full listing with the total discretionary and non-discretionary AUM visit investmentnews.com
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at www.whitesecuritieslaw.com
Top 10 Most Common Types of Securities Fraud
As a national securities litigation law firm and investor protection advocate, the firm sees all types of securities fraud. The firm has put together a top 10 list of the most common types of securities fraud to come through the firm’s offices.
#10 – Insider Trading
- Brokers sometimes recommend trades claiming that they have insider information. Insider trading is illegal and an investor should not invest based on their advisor’s “insider information.”
# 9 - Guaranteed Winner
- Brokers are generally not permitted to make guarantees regarding performance of an investment. If your broker has done so, it is likely against his or her firm’s policy.
#8 – Trading Without Permission (Unauthorized Trading)
- Unless your account is setup as a discretionary account (permitting your broker to trade without your prior authorization), a financial advisor is required to call you before every trade.
#7 – Misrepresentations
- Brokers often misrepresent the safety or features of a product. If you were induced to purchase an investment based on misrepresentations, the advisor may be liable for any losses incurred.
#6 – Ineptitude or Negligence
- Sometimes a financial advisor simply makes a mistake, resulting in damages for the investor. Such claims for negligence can be actionable.
#5 – Margin problems
- Brokers often recommend that an investor invest on margin (borrowing money with their stock portfolio as collateral). Such an investment strategy has risk and can be inappropriate for certain investors.
#4 – Excessive Trading (Churning)
- Any time a broker trades for the explicit purpose of generating commissions, such trading is inappropriate. If it becomes pervasive, such trading can legally be considered churning.
#3 – Over-concentration
- Any portfolio should be diversified amongst various investments, investment types, and investment sectors. If a broker over-concentrates an investor’s portfolio in any particular investment, such a recommendation is inappropriate.
#2 – Failure to Perform Due Diligence
- Brokerage firms have a fiduciary duty to research an investment prior to offering it for sale to its clients. Unfortunately, brokerage firms sometimes fail to perform the necessary due diligence and market and sell improper investments, like Ponzi schemes.
#1 – Unsuitability
- Not all investments are suitable for every investor. For example, certain high risk investments are inappropriate for retired or conservative investors.
If you have questions about these types of securities fraud, or believe you have been the victim of a securities fraud, please feel free to call our Chicago office at 312/238-9650.
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 Boca Raton, Florida.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.