The White Law Group announces the filing of a FINRA Arbitration claim against IMS Securities, Inc

CORPUS CHRISTI, Texas - May 30, 2017 - PRLog -- The FINRA claim was filed by The White Law Group and submitted on behalf of a Corpus Christi, TX couple alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that IMS Securities, Inc. unsuitably invested the clients in the following high risk private placement investments:

Aztec
ICON Fund 15
Steadfast REIT
BDCA 1
Realty Finance Trust
Griffin Capital
ARC Healthcare Trust 2
ICON Fund 15
Philip Edison Grocery REIT I
Philip Edison Grocery REIT II
Hard Rock Oil and Gas
UDF I
UDF IV

The claim seeks damages between $500,000 and $999,999.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

It is alleged IMS Securities, Inc. failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

It is further alleged that the financial advisor that handled the accounts at issue is Steven Knowlton. According to the Financial Industry Regulatory Authority, Knowlton has been the broker of record for at least seven (7) customer disputes for similar allegations.

According to D. Daxton White, managing partner of The White Law Group, "Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.

It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer's failure to supervise and don't realize they have recovery options."

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on the claim filed by The White Law Group, please contact the firm at 1-888-637-5510 or  please visit https://www.whitesecuritieslaw.com.