Securities America Inc. Investment Attorney
Our law firm represents investors that have been mistreated by their financial advisors and brokerage firms, such as Securities America Inc. (Securities America). Many investors do not realize when their brokers engage in securities misconduct. Securities related misconduct falls under many different categories including breach of fiduciary duty, unsuitable asset allocation, false representations, and churning. The attorneys at Gana Weinstein LLP can analyze your investments to determine if there was actionable misconduct in the handling of your account.
Securities America is a part of Ladenburg Thalmann Financial Services, (NYSE: LTS), is a diversified financial services company with two primary business lines of independent brokerage and advisory and investment banking and capital markets. The company offers investment banking, equity research, institutional sales and trading, independent brokerage and advisory services, asset management services and trust services through a number of subsidiaries. Ladenburg has over 2,700 financial advisors with approximately $75 billion in client assets.
Securities America Inc. is affiliated with, under common control, or otherwise performs business under the company names Securities America Financial Services, Securities America Advisors, Inc., Ladenburg Thalmann Financial Services, Ladenburg Thalmann & Co. Inc., Investacorp, Inc., Triad Advisors, Inc., and Premier Trust, Inc.
Securities America – By the Numbers:
- CRD# 10205
- SEC# 8-26602
- 38 Regulatory Events
- 25 Customer Complaints
- Number of Offices: 1,200
- Total Revenues: $400 million - 2012
- Total Client Assets: $47 billion
- Clients: 380,000
- Representatives: 1,800
Securities America – In the News:
NASD v. Securities America, Inc.. – The NASD fined Securities America $2.5 million concerning allegations that the firm failed to adequately supervise a broker who lured long-term employees of Exxon Corporation into retiring prematurely with unreasonable and exaggerated promises of high returns from reinvested funds from their company retirement plans. The NASD also ordered Securities America to pay $13.8 million in restitution to 32 former Exxon employees. Securities America also agreed to hire a consultant who will conduct a comprehensive review of the firm's seminar presentations, advertising, and systems and procedures relating to retirement planning and investment recommendations for retirees as part of the settlement.
FINRA v. Securities America, Inc.. – FINRA fined Securities America Inc. $100,000 concerning allegations of e-mail violations. Securities America also agreed to review, test and certify that its supervisory systems have been fixed. FINRA alleged that violations concerned a series of e-mails sent by three registered representatives containing misleading statements about the safety and liquidity of two troubled private placements. FINRA charged that from October 2007 through August 2008, Securities America's email-monitoring system failed to capture messages sent by the brokers that repeatedly used words and phrases such as "completely liquid," "safe," "safety" and "guaranteed."
The attorneys of Gana Weinstein LLP has successfully handled hundreds of customer investment disputes with their brokerage firms. Our attorneys can help you detect and uncover suspicious activity in your accounts. Our consultations are free and we welcome all inquiries.