B. Riley Wealth Management Lawsuit

The White Law Group Files a Claim against B. Riley Wealth Management 

The White Law Group announces the filing of a FINRA arbitration claim against B. Riley Wealth Management for investment losses involving high-risk alternative investments. 

The firm submitted a claim to FINRA Dispute Resolution on behalf of a New York family, alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.    

The claim further alleges that B. Riley Wealth Management unsuitably invested its clients in the following high-risk, alternative investments: Healthcare Trust, ARC Trust V, Inc., First Capital Real Estate Trust, Inc., Hospitality Investors Trust, ARC Retail Center of America, Inc., ARC Global Trust, Inc., ARC New York City REIT, KBS Real Estate Investment Trust III, Inc. and American Finance Trust, Inc. The claim seeks damages of $1,000,000 to $3,000,000.00.

FINRA Dispute Resolution

Broker dealers have a fiduciary duty to adequately disclose the risks involved in an investment before recommending it and must perform the necessary due diligence to determine whether the investment is suitable for the investor.  It is alleged that B. Riley Wealth Management failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors. 

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court. 

“We believe there are many more investors who have suffered losses due to unsuitable investment recommendations who may not realize they have recourse, or may be unaware of any wrongdoing,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud, securities arbitration, investor protection and securities regulatory/compliance law firm with offices in Chicago, Illinois and Seattle, Washington. 
   
“Brokerage firms are required to supervise their advisors to make sure that they are complying with FINRA rules. If it can be determined that the financial advisor’s employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.” 

Free Consultation with Securities Attorneys

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.         

Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.          

With over 40 years of securities law experience, The White Law Group has the expertise to help investors defrauded attempt to recover their investment losses.      

For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510.