July 30, 2015
The Investment News reports that brokerage firm J.P. Turner is being closed down and that about half of its 300 brokers have been invited to join Summit Brokerage Services. J.P. Turner and Summit are both owned by Cetera Financial Group.
RCS Capital Corp acquired J.P. Turner and Summit during 2014 which placed them under the Cetera umbrella of companies. According the report, due to the number of disclosure items on J.P. Turner’s FINRA records, Pershing, the clearing firm , would not let it join their platform.
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.
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