Triad Advisors Fined by Securities Regulators Over Sale of LJM Preservation & Growth Fund
May 2022-Atlanta, GA
Triad Advisors is a broker dealer headquartered in Atlanta, Ga. It has been a FINRA member since 1990 and has more than 1,000 brokers in 351 branch offices nationwide.
In December of 2021, FINRA alleged that Triad Advisors failed to reasonably supervise its brokers who recommended the sale of LJM Preservation & Growth Fund and permitted its sale without conducting reasonable due diligence. Additionally FINRA found that Triad permitted the sale of LJM without a sufficient understanding of of its risks and features, including the fact that the fund pursued a risky strategy that relied, in part, on purchasing uncovered options.
Triad representatives sold $2.2 million in LJM and its value dropped 80% in 2018 and the fund ultimately liquidated and closed.
Triad Advisors was censured , paid FINRA a fine of $195,500 and paid restitution of over $500,000 to customers who suffered losses.
If you have questions about losses in your brokerage or investment account at Triad Advisors , contact us for a no charge consultation to explore your legal rights.
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