Imagine yourself as a seasoned investment professional who has placed your trust in a financial advisor only to discover that your investments were mismanaged. It’s a nightmare, isn’t it? This is exactly what happened to customers of Michael TrethewayA broker and investment adviser with Prospera Financial Services, Inc.
What has happened?
A recent disclosure incident has led to the Massachusetts Securities Division placing conditions on Tretheway’s Registration as a Broker Dealer(BD) Agent as well as as an Investment Advisor Representative (IAR), Prospera. This is a serious matter and the regulatory body must take action to protect the investors.
- Prospera is required to monitor Tretheway at a higher level for two year.
- Prospera will randomly select at least ten or 10% of Tretheway’s Massachusetts customer accounts Every quarter, you should review your plan.
- Prospera will also be required to review and obtain a signed written statement from Tretheway, stating that Tretheway has never conducted outside business or held any outside investment accounts.
- Tretheway must also review all bank statements that are in his name or under control.
- The annual audit of the compliance department must include Boston, Florida, all Massachusetts Tretheway customer accounts, as well as an interview in person with Tretheway.
The regulatory body is sending a clear signal that protecting investors comes first.
What Can Investors do?
What about the investors that have already suffered losses because of this mismanagement? Do they have a way out? Answer: a resounding Yes. Here is where FINRA arbitration comes in.
 AD - Recover your investment losses! Haselkorn & Thibaut, P.A. is a national law firm that specializes in fighting ONLY on behalf of investors. With a 95% success rate, let us help you recover your investment losses today. Call now 1-888-784-3315 or visit InvestmentFraudLawyers.com to schedule a free consultation and learn how our experience can help you recover your investment losses. No recovery, no fee.
|
Through FINRA Arbitration, investors have the opportunity to recover Their losses. This is a quicker, more informal, and cheaper process than litigation. An impartial arbitrator listens to each party, looks at the evidence and then renders a decision. The arbitrator’s decision is binding.
If you are an investor that has lost money due to the mismanagement of your investments, then this article is for you. investments by your financial advisorAll hope is not lost. You can use the FINRA arbitral process to recover any losses.
The conclusion of the article is:
The regulatory agencies are doing their best to protect consumers. investors and hold financial advisors Investors also play a part in being accountable. It is important to be aware of your rights and what mechanisms are in place to protect them. Remember, when it’s your hard-earned cash, don’t hesitate to ask questions or demand transparency. Remember, it is not only about the money. It is also about trust and responsibility. And the peace of mind you get from knowing your investments are secure.
