Claim Filed against Concorde Investment Services

The White Law Group Files another FINRA Claim against Concorde Investment Services 

The White Law Group announces the filing of a FINRA arbitration claim against Concorde Investment Services for investment losses involving complex alternative investments.  The firm submitted a claim to FINRA Dispute Resolution on behalf of investors in California alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.    

The claim further alleges that Concorde Investment Services unsuitably invested its client in high-risk illiquid Delaware Statutory Trusts (DSTs). The claim seeks damages of $1,000,000 to $5,000,000. Claimants were allegedly unsuitably invested in the following DST investments, among potentially others: 

Cantor Fitzgerald Aurora Multifamily DST
Vineyard Pearland DST
Griffin Capital Dominion DST
NextPoint Flamingo DST
Passco Cypress Creek DST  

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 Concorde Investment Services failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor.

FINRA Attorneys 

FINRA, the regulator who oversees brokers and brokerage firms, provides FINRA Dispute Resolution as 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. 

“Investors frequently suffer losses due to unsuitable investment recommendations by their brokers and don’t realize they have recovery options,” said D. Daxton White, managing partner of The White Law Group, a national securities fraud and FINRA arbitration firm. 
   
Brokerage firms are required to supervise their representatives to make sure that they are following 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.
   
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.  For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510. 
   
For more information on the White Law Group and its representation of investors in FINRA arbitration claims, such as the one against Concorde, please visit http://whitesecuritieslaw.com.