Category Archives: Triad Advisors

Rebecca H. True of True Capital Advisors Discloses Customer Dispute Over Alternative Investments-

April 2017-Orlando, FL

The FINRA records of  Rebecca H. True ,  a  stockbroker who is currently registered with Triad Advisors disclose a pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA arbitration 16-03480 a customer of Triad Advisors is seeking damages of $567,000 and alleges that investments into non-conventional investment programs (direct investments, limited partnerships, oil & gas, real estate securities) were not suitable.

Rebecca True has been employed by Triad Advisors since 5/2009.   She discloses a business affiliation with True Capital Advisors in Ocoee, FL. 

If you have losses in an account in an account handled by Rebecca True , you may be able to recover damages through FINRA arbitration.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures.  These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Christopher T. Tolmacs-Former Triad Advisors Broker-Discloses Customer Disputes & Outstanding Liens

August 2016- Portage, MI

The FINRA records of  Christopher T. Tolmacs,  a  stock broker who was permanently barred from the industry by FINRA and who was last employed by Triad Advisors  disclose  2 prior  regulatory event, a currently pending customer dispute, 2 prior customer disputes and 2 currently outstanding judgement/liens.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In March 2016, Tolmacs consented to FINRA sanctions, including a permanent bar from the industry, to resolve allegations that he failed to fully respond to requests from FINRA in connection with an investigation into whether Tolmacs had entered into lending arrangements with several of his customers through the issuance of promissory notes and whether Tolmacs made materially misleading statements and omissions in connection with those arrangements and whether Tolmacs converted customer funds. FINRA Case 2016048966301.

In a currently pending customer dispute, a customer of Triad Advisors alleges damages of $385,000 in connection with a loan solicited by Tolmacs.

The two prior customer disputes relate to loans from customers. One was settled for $66,000 and the other was settled for $60,000.

Tolmacs discloses a tax lien in favor of the Michigan State Treasury in the amount of $15,858 and a tax lien in favor of the Internal Revenue Service in the amount of $210,273.

Tolmacs was registered with Triad Advisors from 4/2008-3/2016.

If you have losses in an account handled by Christopher Tolmacs you may be entitled to damages from his former employer.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Stockbroker Leavitt Sanders has 38 Customer Complaints- Invest Financial Corporation-West Point, Georgia

West Point, Georgia

We are investigating Leavitt F. Sanders,  of Leavitt Financial Group, who was a registered stockbroker with the following broker dealers:

  • Capital Asset Advisory Services                   1/2014- present
  • Triad Advisors                                                        1/2014-12/2014
  • Invest Financial Corporation                       10/2008-1/2014
  • Financial Network Investment Co.               11/1998-10/2008

According to FINRA records, Sanders has been named in 38 customer disputes, of which 13 are still pending.

In these prior and pending customer disputes, Sander’s former customers have made numerous allegations regarding the mishandling of their brokerage accounts, including:

  • unsuitable investment strategies
  • misrepresentation
  • breach of fiduciary duty
  • lack of diversification
  • excessive trading
  • unauthorized trading
  • failure to follow liquidation instructions

In March 2015, the Georgia Secretary of State suspended Sanders pending his agreement to produce documents and records for inspection in connection with an official records examination.

If you have losses in an account handled by Leavitt Sanders, contact us to discuss how you may be able to recover damages from his former employer through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

FINRA Assesses Some Big $$ Fines to Broker Dealers

By Robert H. Rex, Esq.

In April 2014, the Investment News published the following “8 big-money FINRA Fines”:
 
  • Berthel Fisher & Co. Financial Services fined $775,000 to resolve claims that they didn’t adequately train or supervise brokers selling alternative investments (REITs, limited partnerships,private placments, etc) and traditional Exchange Traded Funds (ETFs)
  • LPL Financial fined $950,000 to resolve allegations related to supervisory deficiencies in connection with the sale of alternative investment products.
  • COR Clearing, LLC(formerly Legent Clearing LLC) censured and fined $1,000,000 by FINRA for several compliance deficiencies including anti-money laundering procedures, financial reporting and supervision. 
  • Triad Advisors fined $650,000 and ordered to pay restitution of $375,000 because of a failure to supervise hundreds of brokers who created and distributed to clients inaccurate consolidated account statements. 
  • State Trust Investments of Miami, FL, fined $1,045,000 and ordered to pay restitution of $353,319 for charging unfair markups and markdowns in corporate bond transactions. 
  • Merrill Lynch fined $900,000 and ordered to pay restitution of $1.1 million for selling mutual funds of floating-rate bank loans during the credit crisis that were not suitable for their clients.
  • Wells Fargo Advisors fined $1.250,000 and ordered to pay restitution of $2 million for same reason as Merrill above, selling mutual funds of floating-rate bank loans during the credit crisis. 
  • LPL Financial fined $7.5 million and ordered to pay restitution of $1.5 million, for a total of $9 million in what is alleged to be the largest FINRA fine ever, for significant failures of their email system. 
Stockbrokers and broker dealers have a duty to make suitable recommendations to their customers. If you believe you are the victim of broker negligence or fraud, call to discuss your legal rights. 
 

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Triad Advisors Fined $650,000 by FINRA-Inaccurate Statements

By Robert H. Rex, Esq.


In March 2014, the Financial Industry Regulatory Authority (FINRA) sanctioned and fined Triad Advisors $650,000 for failing to supervise use of their consolidated reporting systems which resulted in statements being sent to customers that contained inaccurate valuations and for failing to retain consolidated reports in accordance with securities laws. 

Triad was also ordered to pay $375,000 in restitution to customers. 

The consolidated reporting system combined information regarding customer’s holdings and included assets held both at the firm as well as away from the firm. The system allowed brokers to enter values for assets held away from the firm. 

It is common for many firms to exclude from monthly statements, values or alternative assets like REITs, oil and gas partnerships, hedge funds and business development companies. 

FINRA Executive VP and Chief of Enforcement  Brad Bennett said “Firms must ensure that consolidated reports send to customers are clear, accurate and not misleading. Absent proper supervision, consolidated reports can be used by unscrupulous representatives to conceal fraud and theft”.

For more than two years, according to FINRAs news release, Triad failed to supervise hundreds of brokers, some of whom were creating and sending false and inaccurate consolidated reports to customers. Many contained inflated values for investments and some reflected fictitious promissory notes and investments. 

If you have questions about your account with Triad Advisors, call to speak with an experienced securities attorney to explore your legal rights. 

Nationwide representation.


561 391 1900