Investment Professionals, Inc. Settles with Massachusetts Securities Division Regarding Variable Annuities, Market Linked CDs, and Non-Traded REITs
Have you invested in variable annuities, market linked CD, or non-traded REITs (real estate investment trusts) through the brokerage firm, Investment Professionals, Inc.? We are investigating allegations made by the Massachusetts Securities Division against Investment Professionals, Inc. LLC. Investment Professionals, Inc. is based out of San Antonio, Texas. Massachusetts brought a complaint against Investment Professionals, Inc.
Massachusetts alleged that Investment Professionals partnered with local banks throughout Massachusetts. Investment Professionals was alleged to have sales contests for its advisors to sell variable annuities (and other products) to customers, which included vacations. Massachusetts previously alleged that these “aggressive” sales contests fostered a culture of selling unsuitable investments to senior investors and financially harmed them.
According to the Consent Order with Massachusetts, Investment Professionals was censured and was ordered to provide an accounting for losses attributable to the alleged conduct and provide restitution to investors. Additionally, Investment Professionals was ordered to pay a $100,000 fine and to undertake a comprehensive internal investigation its activities.
Brokerage firms like Investment Professionals, Inc. LLC have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado, the Seattle area, Chicago, and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including numerous investors in Massachusetts in the past. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Investment Professionals Massachusetts Consent Order
If you lost money with Investment Professionals, Inc. please CONTACT US at (720) 599-3505 for a free evaluation of your case.
Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency. Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency. All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact. This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice. Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis. In contingent representation, clients may still be liable for costs.