Triad Advisors: 4 Customer Complaints, 6 Regulatory Actions
Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 17, 2019 indicate that Georgia-based brokerage and advisory firm Triad Advisors has received customer complaints and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Triad Advisors (CRD# 25803).
Established in Florida in 2017, Triad Advisors is headquartered in Norcross, Georgia and registered with 53 US states and territories. Organized as a limited liability company, the firm’s fiscal year ends in December. According to its BrokerCheck report, Triad Advisors has received four customer complaints and six regulatory sanctions.
In 2016 FINRA sanctioned the firm in connection to allegations it failed to detect and apply sales charge discounts to some of its clients’ eligible investments in unit investment trusts, ultimately leading to more than $102,600 in excessive sales charges. FINRA’s findings state that the firm did not establish, maintain and enforce a supervisory system, with written supervisory procedures, which were adequately designed to make sure that clients were given sales charge discounts on eligible purchases. In connection with these findings, the firm was censured and issued a fine of $125,000. It was also ordered to pay more than $102,600 in restitution to affected customers.
In 2015 the Florida Office of Financial Regulation sanctioned the firm in connection to allegations a Florida branch failed to maintain a blotter for checks received; that the firm did not maintain a copy of its approval of that branch’s stationary; and that the firm did not maintain a record of additional review of a representative’s outside business activity. In connection with these findings, the firm was issued a fine of $7,500.
In 2014 FINRA sanctioned the firm in connection to allegations of supervisory failures concerning, among other matters, consolidated reports, branch audits, and net capital requirements. In connection with these findings, the firm was ordered to pay a fine of $675,000 and restitution of $375,000 to affected customers.
In 2010 a customer alleged Triad Advisors breached contract, breached its fiduciary duty, misrepresented material facts, acted negligently, and failed in its supervisory duties. The complaint resulted in an award to the customer of more than $250,300.
In 2007 FINRA sanctioned the firm in connection to allegations it failed to timely report certain corporate bond trades. It was censured and issued a fine of $10,000.
In 2006 a customer alleged the firm acted negligently and recommended unsuitable investments. The complaint resulted in an award to the customer of more than $30,340.
In 2002 a customer alleged Triad Advisors breached its fiduciary duty, recommended unsuitable investments, breached contract, and acted negligently. The complaint resulted in an award to the customer of $103,000.
If you have lost money investing with Triad Advisors, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.