March 2018-Scottsdale, AZ
The FINRA records of Aaron Paul Brodt , an advisor with Ashton Thomas Private Wealth who is currently a registered stockbroker with Peachcap (Peachtree Capital Corp.) , disclose a currently pending customer dispute and 3 prior final 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 FINRA case #16-2532, a client alleged damages of $100,000 for recommending a debt-asset backed investment purchased in May 2015. The customer alleged the recommendation was unsuitable. That case settled for $58,333.
In a second similar case in 2016 , a customer alleged that Brodt recommended a debt-asset backed investment in May and October of 2015 that was also unsuitable. That case was settled for $116,667.
In the currently pending matter, FINRA Case 17-1178, a customer of Brodt’s prior employer, Accelerated Capital Group alleges negligence, over concentration, breach of fiduciary duty and failure to supervise in connection with the recommendation to purchase alternative investments. The customer seeks damages of $340,000.
Alternative investments include non publicly traded real estate investment trusts (REITS) and limited partnerships (oil and gas and equipment leasing) . It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, non transparent, 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. They are generally not suitable for retirees who are seeking to protect from the loss of capital.
Brodt has been registered with Peachcap since 7/2016. Prior to that he was registered with Accelerated Capital Group 2/2012-5/2016.
If you have questions about an account handled by Aaron Brodt, call for a no charge consultation to discuss your options.
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.
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