Category Archives: Triad Advisors

Triad Advisors to Pay $194,000 in Fines and Restitution for Allowing Churning of Accounts

February 2020-Norcross, GA

FINRA reports that Triad Advisors,LLC,  a national, independent broker-dealer and multi-custodial SEC-Registered Investment Advisor, headquartered in Atlanta, has been fined and ordered to pay restitution to customers totalling $194,000 for inadequate supervision of its brokers who engaged in short term trading of mutual funds and variable annuities.

This practice is known as churning or switching and is generally done by financial advisors to generate commissions. According to regulators, “from June 2015 through December 2017, Triad failed to establish, maintain, and enforce reasonable supervisory procedures that were reasonably designed to identify possible inappropriate rates of VA exchanges” FINRA noted, adding that over time Triad had also fallen short in filing the necessary disclosures related to customer arbitrations and complaints.

At the time covered by the Finra settlement, Triad was owned by Ladenburg Thalmann Financial Services Inc.

Poor supervision of broker dealers is a longstanding issue for the retail securities industry.   

In 2016, MetLife Securities was hammered with a $25 million fine by FINRA for their enormous compliance failings when changing clients from one annuity to another.

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

Mark Alex Reffett- Former Triad Advisors Broker- Discloses $1.5 Million Customer Dispute- Atlanta, GA

November 2020- Atlanta, GA

According to publicly available records, former Triad Advisors broker Mark Alex Reffett  discloses 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 April of 2020, a customer of Triad Advisors, –a previous employer of Reffett-  filed FINRA case #20-01341 alleging claims of unsuitable investment strategy in alternative investments beginning in 2014 and continuing through 2016 with alleged damages of $1,575,881.   The case is still pending.

Reffett was  employed by Triad Advisors from 6/2013-3/2017.  He is currently registered with ACG Wealth, Arkadios Capital and EPG Wealth Management. Reffett discloses business affiliations with Stratford Capital LLC and RCM Capital Holdings.  

If you have losses in an account handled by Mark Alex Reffett , call to learn how you may be able to recover damages through FINRA arbitration.

Alternative Investments

Investors owning non publicly traded alternative investments, such as real estate investment trusts (REITs) and oil and gas partnerships may not have been aware of the meaning of illiquid when  the investments were recommended to them by a financial advisor or stockbroker.

These  investments generated high commissions for the firm and broker and were typically sold to unsuspecting with the promise of a steady dependable stream of income, a promise of steady or increasing value and with little discussion of the fact that the investment cannot be sold on any conventional exchange should a need for cash arise.

Many investors made the decision to purchase these investments without a clear understanding of the risks associated with them. Many purchased them not aware that they are illiquid.

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

David Mirolli-Kalos Capital, inc. Broker- Discloses Settled Customer dispute-Alpharetta, GA


November 2020- Alpharetta, GA

According to publicly available records, Kalos Capital, Inc.  broker David Mirolli discloses a settled customer dispute and 2 pending customer disputes.

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 February of 2020, a customer of Kalos Capital, Inc. , alleged that Mirolli failed to conduct reasonable due diligence and recommended an investment strategy comprised of speculative and unsuitable securities pursuant to material misrepresentations and omissions by GPB Capital Holdings. The case settled for $55,000.

In September of 2020 a Triad Advisors and Kalos Capital Inc. in FINRA case #20-03081, a customer alleged an unsuitable investment strategy in alternative investments including GPB . the alleged damages are $1.2M.  This case is pending.

In August of 2020 in FINRA case #20-01818 a Kalos Capital, Inc. customer alleged that Mirolli did not conduct reasonable due diligence and recommended an unsuitable and high-risk investment with alleged damages of $360,570. The case is pending.

Mirolli has been employed by Kalos Capital Inc.  since November of 2015 and with Catalyst Wealth Management since March of 2015. Before that time he was with Triad Advisors, Inc.

If you have losses in an account handled by David Mirolli call to learn how you may be able to recover damages 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

Daniel Davila, III- Purshe Kaplan Sterling Broker-Discloses Customer Suit Over REIT Investments-Austin, TX

January  2019-Austin, TX

According to public records of Daniel Davila, III (CRD#1686004)  a  stockbroker employed by Purshe Kaplan Sterling Investments, discloses the recent resolution of a customer suit.

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 October 2017, a customer of  Davila’s prior employer, Triad Advisors, Inc., filed FINRA Case 17-02724 alleging  that recommendations to purchase  non-traded REITs and private placement investments  were unsuitable .   The case was settled for $670,000.

In November 1998 a customer of Davila’s prior employer, HD Vest,  alleged breach of contract, breach of fiduciary duty, fraud, conspiracy, deception trade practices and negligence.  That case was settled for $450,000.

Davila  has been employed with Purshe Kaplan Sterling Investments  since October of 2014.   He was previously employed with Triad Advisors from 10/2009-10/2014.  Davila discloses a business affiliation with Austin Wealth Management

If you have losses in an account in an account handled by  Daniel Davila, III contact us for a no charge consultation to learn how you may be able to recover damages from his 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

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