Brooklynn Willy Allegedly Recommended High Risk Investments
According to the San Antonio Express News, San Antonio investment adviser and radio show host Brooklynn Chandler Willy, the CEO and president of Texas Financial Advisory, is currently embroiled in a legal quagmire involving multiple lawsuits related to an alleged investment scheme.
The lawsuits reportedly allege that Willy advised clients to invest their retirement funds in risky and unregistered securities issued by Ferrum Capital LLC, a Lubbock-based company. These securities were purportedly used to fund loans to a debt collection agency, Collins Asset Group LLC, for the acquisition of distressed accounts receivable, commonly known as bad debt.
The lawsuits, filed by former clients, reportedly cite violations of state securities laws, breach of fiduciary duties, and fraud, naming Willy, her firm, and other defendants as parties.
This legal saga follows Willy’s prior disciplinary actions by the Texas State Securities Board three years ago. At that time, she faced consequences for engaging in the sale of “alternative investments” without the necessary registrations, leading to a suspension of her investment adviser license and the requirement to repay commissions.
The clients reportedly contend that the investments were made based on assurances of safety and profitability, only for them to face financial losses and uncertainty as the debt notes mature.
According to the SEC’s public records on investment advisors, Willy was reported registered with J. Cole Advisors until she was terminated in 2019 for “violation of firm policies regarding participation in unapproved private securities transactions.”
Filing a Complaint against your Brokerage firm
Brokers have a fiduciary duty to perform adequate due diligence on any investment before recommending it to investors. If you think your investments were not suitable for you, and you have suffered losses, you may have a viable claim against your brokerage firm.
If you are concerned about your investments with Brooklynn Willy, the securities attorneys at The White Law Group may be able to help you. Please call the offices at 888-637-5510 for a free consultation with a securities attorney.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Seattle, Washington.
For more information on the firm, please visit https://www.whitesecuritieslaw.com.