Adam Brunin Lawsuit – Investors File Claim Over Allegedly Risky Investment Strategy
Have you suffered investment losses with financial advisor Adam Brunin of Navigation Wealth Management? You may have legal options for recovery. The White Law Group is investigating potential claims involving Brunin’s alleged use of high-risk investment strategies that may have been unsuitable for conservative or inexperienced investors.
Two Couples File Suit Alleging Negligence and Misconduct
According to a lawsuit filed in May 2025 in Larimer County District Court, Colorado advisor Adam Brunin, president of Navigation Wealth Management in Fort Collins, is accused of implementing excessively risky investment strategies for multiple clients, including the use of triple-leveraged ETFs and algorithmic trading allegedly without proper oversight.
The complaint, filed on behalf of two client couples, accuses Brunin and his firm of:
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Breach of fiduciary duty
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Negligence and negligent misrepresentation
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Violating the Colorado Securities Act
The plaintiffs claim they lost hundreds of thousands of dollars under Brunin’s management — despite the broader market showing strong returns during the same period.
Retirement Plans Derailed by Allegedly Faulty Investment Advice
One couple, David Elzea and Deborah Elzea-Jostes, reportedly entrusted Brunin with managing their retirement portfolio in 2021. Despite their alleged lack of investment sophistication and need for low-risk strategies, Brunin purportedly encouraged early retirement — even with a $550,000 mortgage and a dependent with disabilities — and reportedly claimed he could generate consistent returns using his proprietary algorithm.
The couple alleges that Brunin’s algorithm triggered trades without real-time oversight, including a panic-driven sale of all their equities during a market dip, resulting in losses exceeding$200,000. This occurred while Brunin was reportedly on vacation and unreachable.
Inappropriate Use of Triple-Leveraged ETFs
Another couple, Mark Zyk and Rhona Flanagan, allege they were inappropriately placed in high-risk investments, including Direxion Daily Small Cap Bull 3X Shares (TNA) — a speculative triple-leveraged ETF tied to the volatile Russell 2000 index. According to the complaint, the couple had limited investment experience and sought a conservative strategy to preserve the proceeds from a recent home sale.
The use of leveraged ETFs, which reset daily and are typically only suitable for experienced day traders, allegedly resulted in significant losses and overexposure to market volatility.
Understanding the Risks of Leveraged ETFs
Leveraged ETFs are complex financial instruments designed to deliver multiples of the performance of a specific index or asset — often 2x or 3x — on a daily basis. These funds are not intended for long-term holding, as performance can deviate significantly from the underlying index due to compounding effects and daily rebalancing.
During volatile markets, losses can escalate rapidly, especially if investors hold these products for more than a single day. FINRA and the SEC have both issued investor alerts warning that leveraged ETFs are generally unsuitable for conservative or unsophisticated investors.
Adam Brunin Investment Losses May Be Recoverable
Financial professionals have a duty to recommend investments that are suitable based on a client’s individual financial goals, risk tolerance, and investment experience. If your advisor failed to uphold this duty, you may be able to recover losses through FINRA arbitration.
The White Law Group is currently reviewing potential claims involving Adam Brunin and Navigation Wealth Management. Investors who suffered losses due to unsuitable investments, failure to diversify, or unauthorized trading strategies may be entitled to compensation.
Free Consultation
To learn more about how The White Law Group can help you recover your losses, call us today at 888-637-5510 or visit us at www.whitesecuritieslaw.com.
Last modified: June 11, 2025
