Independent Financial Group LLC Lawsuit

The White Law Group announces the filing of a FINRA Lawsuit against Independent Financial Group LLC
 
CHICAGO - June 20, 2019 - PRLog -- The White Law Group announces filing of a FINRA Arbitration lawsuit today. The claim, submitted on behalf of a couple from Potomac, Maryland, alleges claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.

The claim further alleges that Independent Financial Group LLC unsuitably invested the clients in the following high risk, non-traded REIT investments:

American Realty Capital Trust
KBS Strategic Opportunity REIT
American Realty Capital Healthcare Trust II
American Realty Capital Hospitality Trust
American Finance Trust (AFIN)

The claim seeks damages between $500,000.01 and $1,000,000.00.

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 Independent Financial Group LLC failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor.

According to D. Daxton White, managing partner of The White Law Group, "It is unfortunate, but we believe that many more investors have suffered significant financial losses due to the broker-dealer's failure to supervise and don't realize they have recovery options."

"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."

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 without 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 Franklin, Tennessee.

For more information The White Law Group and the lawsuit filed against Independent Financial Group LLC, please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.

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Tags:American Realty Capital
Industry:Legal
Location:Chicago - Illinois - United States
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