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NEXT Financial Group Inc. Investment Attorney

Our law offices represent clients in investment and securities related disputes against investment firms, such as NEXT Financial Group Inc. (NEXT Financial). Typical claims brought on behalf of clients include investment misconduct related to suitability, failure to supervise, unauthorized trading, and misrepresentations concerning various investment products. Our attorneys can analyze your brokerage account statements, confirmations, and trading activity to determine the extent of the financial losses and provide a consultation.

NEXT Financial was created in 1998 based upon an independent broker/dealer model. The company grew quickly, and had headquarters in Houston, Texas. Companies WE2, NFISCO, and 4WARD Marketing were established along side of NEXT Financial Group, Inc. under the newly founded NEXT Financial Holdings. According to NEXT Financial, each of the companies were developed in accordance with NEXT’s culture, giving every advisor the power to make decisions and give input about the company’s future. Today, NEXT Financial Group has grown from $4 million in gross revenue to over $131 million.

NEXT Financial – By the Numbers:

  • CRD# 46214
  • SEC# 8-51356
  • 11 Regulatory Events
  • 2 Customer Complaints
  • Total Revenues: $118 million – 2012
  • Total Account Assets: $14.3 billion – 2012
  • Number of Retail Offices: 577
  • Representatives: 875 - 2012

NEXT Financial – In the News:

FINRA v. NEXT Financial – The Financial Industry Regulatory Authority (FINRA) fined NEXT Financial Group, Inc. $1 million for supervisory violations that involved the failure to supervise its approximately 130 Office of Supervisory Jurisdiction (OSJ) branch managers. According to FINRA, OSJ branch managers' transactions and sales activities are then supposed to be supervised by another registered principal designated by the firm. However, between January 2005 and November 2006, FINRA found that the firm allowed its OSJ branch managers to self-supervise their own handling of customer accounts without adequate review. FINRA determined that the lack of reasonable policies and written procedures resulted in the firm’s failure to detect churning of customer accounts by an OSJ manager and a broker as well as excessive markups and markdowns on corporate bond trades by another two brokers.

In the Matter of NEXT Financial Group, Inc., AWC No. 2011028898802 (May 3, 2013) - FINRA fined the firm $250,000 concerning allegations that from February 6, 2008, through June 18, 2012, two of NEXT's registered representatives operated an approved outside business activity and used their outside business email accounts to send or receive securities related correspondence with customers. NEXT's written supervisory procedures allowed such use of non-NEXT email addresses in customer communications provided that the outside email domain names were approved and hosted by NEXT. However, FINRA alleged that during the 2009 annual branch audit of the two subject registered persons' branch, NEXT discovered that their outside business emails were not being captured or maintained on NEXT's server and, therefore, were not being reviewed. Despite this knowledge, the FINRA found that NEXT failed to take any corrective steps.

Our attorneys has successfully represented hundreds of investors in their broker disputes with their advisor firms. Our consultations are free and we welcome all inquiries.

Client Reviews
Thank you Adam and all your colleagues for the professionalism and diligence in the final settlement of our securities fraud case. When a past law firm group turned our case down, you and your firm took on the case and we thank you for the great outcome. We would highly recommend your firm. Gloria K.
I will never forget how much you helped me by winning my case! I never thought I would see any money from my investment. I admire the way you fight for everyday people against big companies. Thank you so much! Myra W.
Adam is an outstanding lawyer. I have worked on several cases with Adam and look forward to working with him again in the future. Rob D. - Co-Counsel.
If you want an attorney that is easy to talk to and genuinely cares about your legal situation, contact Adam Gana. He helped me settle a difficult contract dispute. When you work with Adam, he makes you feel as if you are his top priority. He will call you regularly to stay on top of the situation and submits all necessary legal documentation in a timely manner. His writing is excellent, his demeanor professional, and his work exceptional. Nancy N.
Adam helped me recover money from my broker when I thought all was lost. My house was about to be foreclosed, and I lost everything. Adam came in and saved my life. Jean C.