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Mar 18, 2023

J.P. Morgan Sued For Edward Turley’s Alleged Misconduct: $55 Million!

The Law Offices of Robert Wayne Pearce, P.A. has filed another case against Ex-J.P. Morgan broker Ed Turley for alleged misrepresentations, misleading statements, unsuitable recommendations, and mismanagement of Claimants’ accounts. The Law Offices of Robert Wayne Pearce has filed another case against J.P. Morgan Securities for alleged misrepresentations, misleading statements, unsuitable recommendations, and mismanagement of Claimants’ accounts continuing in fall 2019 and thereafter by Edward Turley (“Turley”), a former “Vice-Chairman” of J.P. Morgan. At the outset, it is important for our readers to know that our clients’ allegations have not yet been proven. IMPORTANT: We are providing information about our clients’ allegations and seeking information from other investors who did business with J.P. Morgan and Mr. Turley and had similar investments, a similar investment strategy, and a similar bad experience to help us win our clients’ case. Please contact us online via our contact form or by giving us a ring at (800) 732-2889. Latest Updates on Ed Turley – November 18, 2022 The Advisor Hub reported today that the former star broker with J.P. Morgan Advisors in San Francisco Edward Turley agreed to an industry bar rather than cooperate with FINRA’s probe of numerous allegations of excessive and unauthorized trading that resulted in more than $100 million worth of customer complaints. FINRA had initiated its investigation of Edward Turley as it related to numerous customer complaints in 2020. The regulator noted in its Acceptance Waiver and Consent Agreement (AWC) that the investors had generally alleged “sales practice violations including improper exercise of discretion and unsuitable trading.” According to Edward Turley’s BrokerCheck report, he had been fired in August 2021 for “loss of confidence concerning adherence to firm policies and brokerage order handling requirements.” On October 28th, FINRA requested Turley provide on-the-record testimony related to his trading patterns, including the “use of foreign currency and margin, and the purchasing and selling of high-yield bonds and preferred stock,” but Edward Turley through counsel declined to do so. As a result, Edward Turley violated FINRA’s Rule 8210 requiring cooperation with enforcement probes, and its catch-all Rule 2010 requiring “high standards of commercial honor,” the regulator said and he was barred permanently from the securities industry. Related Read: Can You Sue a Financial Advisor or Stockbroker Over Losses? Turley Allegedly Misrepresented And Misled Claimants About His Investment Strategy The claims arise out of Turley’s “one-size-fits-all” fixed income credit spread investment strategy involving high-yield “junk” bonds, preferred stocks, exchange traded funds (“ETFs”), master limited partnerships (“MLPs”), and foreign bonds. Instead of purchasing those securities in ordinary margin accounts, Turley executed foreign currency transactions to raise capital and leverage clients’ accounts to earn undisclosed commissions. Turley over-leveraged and over-concentrated his best and biggest clients’ accounts, including Claimants’ accounts, in junk bonds, preferred stocks, and MLPs in the financial and energy sectors, which are notoriously illiquid and subject to sharp price declines when the financial markets become stressed as they did in March 2020. In the beginning and throughout the investment advisory relationship, Turley described his investment strategy to Claimants as one which would generate “equity returns with very low bond-type risk.” Turley and his partners also described the strategy to clients and prospects as one “which provided equity-like returns without equity-like risk.” J.P. Morgan supervisors even documented Turley’s description of the strategy as “creating portfolio with similar returns, but less volatility than an all-equity portfolio.” Note: It appears that no J.P. Morgan supervisor ever checked to see if the representations were true and if anybody did, they would have known Turley was lying and have directly participated in the scheme. The Claimants’ representative was also told Turley used leverage derived from selling foreign currencies, Yen and Euros, to get the “equity-like” returns he promised. Turley also told the investor not to be concerned because he “carefully” added leverage to enhance returns. According to Turley, the securities of the companies he invested in for clients “did not move up or down like the stock market,” so there was no need to worry about him using leverage in Claimants’ accounts and their cash would be available whenever it was needed. The Claimants’ representative was not the only client who heard this from Turley; that is, he did not own volatile stocks and not to worry about leverage. Turley did not discuss the amount of leverage he used in clients’ accounts, which ranged from 1:1 to 3:1, nor did Turley discuss the risks currency transactions added to the portfolio, margin calls or forced liquidations as a result of his investment strategy. After all, Turley knew he could get away without disclosing those risks. This was because J.P. Morgan suppressed any margin calls being sent to Turley’s clients and he liquidated securities on his own to meet those margin calls without alarming clients.  This “one-size-fits-all” strategy was a recipe for disaster. J.P. Morgan and Turley have both admitted that Turley’s investment strategy was not suitable for any investor whose liquid net worth was fully invested in the strategy. It was especially unsuitable for those customers like Claimants who had other plans for the funds in their J.P. Morgan accounts in fall 2019 and spring 2020. Unfortunately, Turley recommended and managed the “one-size-fits-all” strategy for his best clients and friends, including Claimants. Turley was Claimants’ investment advisor and portfolio manager and required under the law to serve them as a “fiduciary.” He breached his “fiduciary” duties in making misrepresentations, misleading statements, unsuitable recommendations, and mismanagement of Claimants’ accounts. The most egregious breach was his failure to take any action to protect his clients at the end of February 2020, when J.P. Morgan raised the red flags about COVID-19 and recommended defensive action be taken in clients’ accounts. Turley Allegedly Managed Claimants’ Accounts Without Written Discretionary Authority Claimants’ representative hired Turley to manage his “dry powder,” the cash in Claimants’ accounts at J.P. Morgan, which he would need on short notice when business opportunities arose. At one point, Claimants had over $100 million on deposit with J.P. Morgan. It was not...

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Sep 1, 2020

Investors With “Blown-Out” Securities-Backed Credit Line and Margin Accounts: How do You Recover Your Investment Losses?

If you are reading this article, we are guessing you had a bad experience recently in either a securities-backed line of credit (“SBL”) or margin account that suffered margin calls and was liquidated without notice, causing you to realize losses. Ordinarily, investors with margin calls receive 3 to 5 days to meet them; and if that happened, the value of the securities in your account might have increased within that period and the firm might have erased the margin call and might not have liquidated your account. If you are an investor who has experienced margin calls in the past, and that is your only complaint then, read no further because when you signed the account agreement with the brokerage firm you chose to do business with, you probably gave it the right to liquidate all of the securities in your account at any time without notice. On the other hand, if you are an investor with little experience or one with a modest financial condition who was talked into opening a securities-backed line of credit account without being advised of the true nature, mechanics, and/or risks of opening such an account, then you should call us now! Alternatively, if you are an investor who needed to withdraw money for a house or to pay for your taxes or child’s education but was talked into holding a risky or concentrated portfolio of stocks and/or junk bonds in a pledged collateral account for a credit-line or a margin account, then we can probably help you recover your investment losses as well. The key to a successful recovery of your investment loss is not to focus on the brokerage firm’s liquidation of the securities in your account without notice. Instead, the focus on your case should be on what you were told and whether the recommendation was suitable for you before you opened the account and suffered the liquidation.

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Jul 1, 2020

FINRA Arbitration: What To Expect And Why You Should Choose Our Law Firm

If you are reading this article, you are probably an investor who has lost a substantial amount of money, Googled “FINRA Arbitration Lawyer,” clicked on a number of attorney websites, and maybe even spoken with a so-called “Securities Arbitration Lawyer” who told you after a five minute telephone call that “you have a great case;” “you need to sign a retainer agreement on a ‘contingency fee’ basis;” and “you need to act now because the statute of limitations is going to run.”

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Mar 2, 2019

A Stockbroker’s Introduction to FINRA Examinations and Investigations

Brokers and financial advisors oftentimes do not understand what their responsibilities and obligations are and what may result from a Financial Industry Regulatory Authority (FINRA) examination or investigation. Many brokers do not even know the role that FINRA plays within the industry. This may be due to the fact that FINRA, a self-regulatory organization, is not a government entity and cannot sentence financial professionals to jail time for violation of industry rules and regulations. Nevertheless, all broker-dealers doing business with members of the public must register with FINRA. As registered members, broker-dealers, and the brokers working for them, have agreed to abide by industry rules and regulations, which include FINRA rules.

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Sep 5, 2024

What is Considered a Breach of Fiduciary Duty?

Breach of fiduciary duty occurs when a person or entity in a position of trust (the fiduciary) fails to act in the best interests of another party (the principal). Given that fiduciary duty is the highest legal standard of care, any failure to uphold this responsibility can have severe consequences and monetary losses for those who have been entrusted with a fiduciary duty. Breach of fiduciary duty involves violating the fiduciary’s obligation to prioritize the principal’s interests over their own. Common examples include self-dealing, conflicts of interest, misappropriation of funds, and failure to disclose important information. Fiduciary relationships exist in various contexts, such as between trustees and beneficiaries, directors and shareholders, lawyers and clients, and guardians and wards. Stockbrokers and financial advisors often have fiduciary duties to their clients, requiring them to provide suitable investment advice and manage assets responsibly. What constitutes a breach of fiduciary duty? To prove that breach of fiduciary duty has occurred, the principal must typically demonstrate the existence of a fiduciary relationship, breach of fiduciary obligation, and resulting damages. Remedies may include monetary compensation or equitable relief. In the financial sector, breaches can lead to regulatory penalties and loss of professional licenses. See below for the detailed information you are looking for. Investment Losses? We Can Help The Law Offices of Robert Wayne Pearce, P.A., offers free consultations on breach of fiduciary duty cases. Give us a call at (800) 732-2889. Let’s discuss your case and see what we can do to help you get the compensation you need and deserve. Investment loss? Let’s talk. or, give us a ring at 561-338-0037. How Do You Prove Breach of Fiduciary Duty – Four Elements of a Breach of Fiduciary Duty Case To prove a breach of fiduciary duty, four key elements must be demonstrated: the existence of a fiduciary duty, a violation of that duty, resulting harm, and a causal connection between the breach and the harm. Duty – There Exists a Fiduciary Duty There must be an established fiduciary relationship between you and the other party for the fiduciary to owe you a duty. To hold a fiduciary accountable to their standard of care, it is essential to demonstrate that they knowingly accepted the role. This is typically shown through a written agreement between the parties, such as a customer agreement. Breach – There Was a Violation of This Duty Fiduciaries are required to work in the best interests of their clients, and any deviation from this standard may constitute a breach. To demonstrate a breach of fiduciary duty, one must have evidence that the individual holding this responsibility acted negligently or maliciously—or prioritized their own interests over yours. This can include lost investments, diminished value of your assets, outright theft, decisions made without your consent, or failure to carry out one’s fiduciary responsibility. You can also prove a breach through the fiduciary’s failure to act—for example, not disclosing a conflict of interest. It is best to speak with an investment fraud lawyer to determine if your fiduciary failed in their responsibility and contributed to your losses. Damages – The Breach of Duty Resulted in Harm to You For there to be a legitimate claim of breach of fiduciary duty, the breach must have caused you to suffer damages. Proving there was a breach is not enough for a valid claim of breach of fiduciary duty. Unless you can demonstrate how the violation of fiduciary duty directly caused you to suffer damages, your claim may not be successful. Damages can be either economic or non-economic, such as mental anguish.  Causation – There is a Connection Between the Breach and the Harm There must be a direct link between the fiduciary’s breach and harm to you. If you incurred damages that cannot be connected to the individual’s breach, your claim may not be successful. Breach of Fiduciary Duty Examples Breaches of fiduciary duties can take many forms. A fiduciary must act in the best interests of their client. When they fail to do so, serious harm can result. Examples of a breach of fiduciary duty include misrepresentation or failure to disclose information, excessive trading, unsuitable investments, failure to diversify, and failure to follow instructions. Misrepresentation or Failure to Disclose Information If a financial advisor does not present a client with all material information about an investment, this is a breach of fiduciary duty. Material information is what a reasonable investor would consider important when deciding whether to invest.  Sometimes financial advisors will mislead investors by omitting information, such as risk factors or any negative information about a stock.  Excessive Trading Excessive trading, also known as churning, in your account is a breach of fiduciary duty. Financial advisors or stockbrokers will make large numbers of trades solely to generate more commissions for themselves.  Unsuitable Investments Financial advisors must “know their customer” before making investment recommendations. This includes understanding the client’s investment objectives, risk tolerance, time horizon, financial standing, and tax status. The advisor breaches their fiduciary duty if they make an unsuitable investment, even with the best intentions.  Failure to Diversify Your financial advisor must recommend a mix of investments so that your assets are properly allocated among various asset classes and industries. Failing to diversify your portfolio puts you in a position of great risk and is a breach of fiduciary duty. If your assets are over-concentrated in a particular stock or sector, you may experience significant losses if the company or industry does not perform well.  Failure to Follow Instructions When you give instructions to your financial advisor, they have the fiduciary duty to promptly perform your orders. If your advisor fails to follow your instructions in a timely manner and you suffer financial losses, you can recover. Can You Pursue a Lawsuit for a Breach of Fiduciary Duty? Yes, you can pursue a lawsuit for a breach of fiduciary duty. You will need to speak with an investment fraud lawyer to determine if your fiduciary failed in their responsibility and contributed to your losses. It is important that you prove there was a breach, damages were caused, and the breach was directly...

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Aug 6, 2024

Structured Products Lawyer

The Structured Products Lawyers at The Law Offices of Robert Wayne Pearce, P.A., specialize in representing investors who have suffered losses due to structured products and complex derivatives. With over 40 years of experience, our team of highly skilled attorneys understands the intricacies of these sophisticated financial instruments and the legal challenges they present, and we can help you recover losses from these structured notes. Structured products and complex derivatives are often misunderstood and misrepresented by financial advisors, leading to significant investment losses for unsuspecting clients. Our firm has a proven track record of successfully handling cases involving a wide range of structured notes, including auto-callable notes, market-linked notes, and equity-linked securities. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case. We offer comprehensive legal services for investors who have been affected by: Our team is well-versed in FINRA arbitration and mediation proceedings, and we pursue claims for fraud, misrepresentation, breach of fiduciary duty, and failure to supervise. We work tirelessly to secure the best possible outcome for our clients, operating on a contingency fee basis to ensure that justice is accessible to all. If you’ve experienced losses due to structured products or complex derivatives, don’t hesitate to reach out. Contact The Law Offices of Robert Wayne Pearce, P.A. for a free initial consultation and let our experienced securities law attorneys fight for your rights and recover your investment losses. Can We Help Sue YourFinancial Advisor For Structured Note Investment Losses? Yes, we might be able to sue your financial advisor for structured note investment losses for one or more of the following reasons: What Are Structured Products? Structured products are securities derived from or based on a single security, a basket of securities, an index, a commodity, a debt issuance and/or a foreign currency. They are a hybrid between two asset classes typically issued in the form of a corporate bond or a certificate of deposit but instead of having a pre-determined rate of interest, the return is linked to the performance of an underlying asset class. As this definition suggests, there are multiple types of structured products. These variations include certain products offering full protection of the principal invested while others may offer limited or no protection of principal. For a full detailed description of structured products, read our page here: https://www.secatty.com/legal-blog/structured-notes/ At The Law Offices of Robert Wayne Pearce, P.A. we understand the features and risks of structured products. They are complex investments that often involve terms, features and risks that can be difficult for individual investors and investment professionals alike to evaluate. We have over 40 years experience representing domestic and foreign investors from offices located in Boca Raton, West Palm Beach, and Fort Lauderdale, Florida in courts, arbitrations and mediations nationwide. Contact us for a free consultation if you already have a dispute or problem with a structured product investment. If not, consider the following before you make any investment in structured product securities: Are Structured Notes Suitable Investments? Let me answer that question this way, a particular structured note may be suitable for somebody but not everybody. With regard to the more common structured notes being offered by the major financial institutions these days, they are not suitable for individuals seeking an investment that: They are not suitable investments if you are someone who: Have You Suffered Structured Note Investment Losses? Unfortunately, the lure of higher commissions have in recent years provided added incentives to stockbrokers to recommend structured notes to investors, including those for whom they were inappropriate, too risky, or never in alignment with their investment goals, including, the following types of structured notes: It’s a shock to many investors who sought to avoid market volatility by investing in structured notes. Many who thought they would receive a steady stream of income and guaranteed return of principal have suffered sharp and unexpected losses in structured notes with “reference assets” like Peloton, ARK, Alibaba, Meta(Facebook), Zillow, Yeti, etc. Depending on the other features of those structured notes, the loss of income and principal could be realized permanently. How We Can Help Recover Structured Note Investment Losses At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of structured note investment disputes in FINRA arbitration and mediation proceedings. The claims we file are for fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations in violation of FINRA rules and industry standards. There is no way you will recover your structured note investment losses without some legal action. However, Attorney Pearce and his staff represent investors across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. CONTACT OUR STRUCTURED PRODUCT LAWYER The Law Offices of Robert Wayne Pearce, P.A. have highly experienced structured produce loss lawyers who have successfully handled many structured note cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in structured product cases and all kinds of securities law and investment disputes, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

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Aug 5, 2024

What are Structured Notes in Investing? An attorney Explains

What are Structured Notes? Structured Notes are investments which often combine securities of different asset classes as one investment for a desired risk and return over a period of time. They are complex investments that are often misunderstood by not only investors but the financial advisors who recommend them.  Structured notes are manufactured by financial institutions in all sizes and shapes. Generally, a structured note is an unsecured obligation of an issuer with a return, generally paid at maturity, that is linked to the performance of an underlying asset, such as a securities market index, exchange traded fund, and/or individual stocks. The return on the structured note will depend on the performance of the underlying asset and the specific features of the investment being made. The different features and risks of structured notes can affect the terms and issuance, returns at maturity, and the value of the structured product before maturity. They may have limited or no liquidity before maturity. Before investing, you better make sure you understand the terms and conditions and risks associated with the structured note being offered. Structured Notes Specifics Structured notes are often represented as investments being guaranteed by large financial institutions. Indeed, the top issuers of structured notes in 2021, Goldman Sachs (12.75%), Morgan Stanley (12.70%), Citigroup (12.46%), J.P. Morgan (11.92%), UBS (80.47%), Credit Suisse (4.99%), RBC (4.45%), Bank of America (3.90%), Scotiabank (3.89%), are some of the largest financial institutions in the world. It’s important to understand that although the benefits of owning structured products may be guaranteed to be paid by one of those large financial institutions, the amount of interest or principal being guaranteed is dependent upon the features of the product being sold; that is, the specific terms and conditions of the investment contract being purchased. In this low-interest rate environment the most popular structured notes being offered are structured notes with principal protection and income features. Some of the structured notes offer full principal protection, but others offer partial or no protection of principal at all. Some structured notes offer higher rates of interest that may be paid monthly and then suddenly stop paying any interest at all because payment was contingent upon certain events not happening. It all depends on the terms and conditions of the investment contract being purchased, which is why you must read the term sheet or better yet the prospectus to understand the nature, mechanics and risks of the structured note being sold. Structured Notes Features You need to understand that there are many key terms beyond the words “guarantor” and “guaranteed” which are used often to describe structured notes. You need to ask about and be sure to understand the following features of the structured notes being offered: Talk to an Attorney Before Investing in Structured Notes Structured notes are a type of investment that can offer higher returns than traditional investments, but they also come with more risks. If you’re thinking about investing in a structured note, it’s important that you understand how these products work before making a decision. Robert Pearce, Attorney at the Law Offices of Robert Wayne Pearce, P.A. is a highly experienced investment fraud lawyer who has successfully handled many structured note cases and other complex securities and investment law matters. He will explain structured notes in more detail below this image. What are the Different Types of Structured Notes? There are different types of structured notes, but they all have one goal in common: to give the investor a higher return than what they would get from a traditional investment, like a savings account or government bond. Structured notes can be created with different underlying assets, including stocks, bonds, commodities, and even currencies. The most common type of structured note is the principal protected note, which is designed to protect the investor’s original investment while still offering the potential for growth. Underlying Asset Categories of Structured Notes: Index: The performance of a selected index is used as a reference asset for some structured products. An index is a statistical measure of change in a securities market and the particular index selected varies by product and issuer. The S&P 500 and Dow Jones Industrial Average are two well known examples, but narrower types of indices may be used, such as those relating to particular sectors or regions. Currency: A selected group or basket of currencies whose weighted average is used as a reference asset for some structured products. The number of and particular currencies selected vary by product and issuer. The Euro and Yen are examples. Commodity: A selected, basic good or group of goods whose value is used as a reference asset for some structured products. The type and number of commodities selected vary by product and issuer. Grains, gold, oil and natural gas are examples. Interest Rates and Yields: Bond indices, yield curves, differences in prevailing interest rates on shorter and longer-term maturities, credit spreads, inflation rates and other interest rate or yield benchmarks are used as a reference asset for some structured products. Other types of structured notes include: How do Structured Notes Work? Structured notes are created by banks and other financial institutions. The issuer of the note will bundle together different types of securities, such as stocks, bonds, and commodities. The way these assets are bundled together will create the desired risk and return for the investor over a period of time. All structured notes have two parts: a bond component and a derivative component. Most of the note is invested in bonds for principal protection, with the rest allocated to a derivative product for upside potential. The derivative product investment allows exposure to any asset class. It’s important to remember that a structured note is a debt obligation. The issuer of the structured note typically pays interest or dividends to the investor, similar to a bond, during the terms of the notes. This makes this type of investment seem safe and secure to many investors. However, there is always the potential for...

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Aug 5, 2024

An Attorney Explains: The Risks of Structured Notes/Products

Risks to Consider When Investing in Structured Notes/Products As an investor, you must be fully aware of the associated risks and whether structured notes fit within your investment parameters. Robert Pearce, Attorney at the Law Offices of Robert Wayne Pearce, P.A. will explain these risks to you. He is a highly experienced investment fraud lawyer who has successfully handled many structured note cases and other complex securities and investment law matters. What are structured products? More detail here Features of a particular structured product, dependent upon the type of products issued, that you as an investor should consider when determining its general suitability: Structured Product Credit Risk: Structured products are unsecured debt obligations of the issuer. As a result, they are subject to the risk of default by the issuer. The creditworthiness of the issuer will affect its ability to pay interest and repay principal. The financial condition and credit rating of the issuer are, therefore, important considerations. The credit rating, if any, pertains to the issuer and is not indicative of the market risk of the structured product or underlying asset. If a structured issue provides principal protection or a minimum return, any such guarantee rests on the credit quality of the issuer. Those issued by banks in the forms of CDs may also provide FDIC insurance with standard coverage limitations. Structured Product Liquidity Risk: Structured products are generally not listed on an exchange or may be thinly traded. As a result, there may be a limited secondary market for these products, making it difficult for investors to sell them prior to maturity. Investors who need to sell structured products prior to maturity are likely to receive less than the amount they invested. Therefore, structured products with longer maturities are subject to greater liquidity risk. The price that someone is willing to pay for structured products in a secondary sale will be influenced by market forces and other factors that are hard to predict. Sometimes, a broker-dealer affiliate of the issuer may make a market for the resale of structured products prior to maturity but the price it is willing to pay will be adversely affected by the commissions paid by the issuer on the initial sale of the structured products and the issuer’s hedging costs. Some structured products have lock-up periods prohibiting their sale during such periods. Persons who invest in structured products should have the financial means to hold them until maturity. Structured Product Pricing Risk: Structured products are difficult to price since their value is tied to an underlying asset or basket of assets and there typically is no established trading market for structured products from which to determine a price. Structured Product Income Risk: Structured products may not pay interest (or may not pay interest in regular amounts or at regular intervals), so they are not appropriate for investors looking for current income. Because the return paid on structured products at maturity is tied to the performance of a basket of assets and will be variable, it is possible that the return may be zero or significantly less than what investors could have earned on an ordinary, interest-bearing debt security. The return on structured products, if any, is subject to market and other risks related to the underlying assets. Structured Product Complexity and Derivatives Risk: Structured products typically use leverage, options, futures, swaps and other derivatives, which involve special risks and additional complexity. Structured Product Pay-Out Structure Risk: Some structured products impose limits, caps and barriers that affect their return potential. With barriers, a structured product may not offer any return if a barrier is broken or breached during the term of the structured product. Conversely, some structured products may not offer any return unless certain thresholds are achieved. Some structured products impose maximum return limits so even if the underlying assets generate a return greater than the stated limit or cap investors do not realize that excess return. Structured products also have participation rates that describe an investor’s share in the return of the underlying assets. Participation rates below 100% mean that the investor will realize a return that is less than the return on the underlying assets. Structured Product Volatility and Historical Performance of Underlying Asset(s): Past performance of an underlying asset class is not indicative of the profit and loss potential on any particular structured product. The value of the underlying assets can experience significant periods of fluctuation and prolonged periods of underperformance. Structured Product Costs and Fees: Costs and fees associated with the purchase of a structured product vary. Structured Product Tax Considerations: Structured products may be considered “contingent payment debt instruments” for federal income tax purposes. This means that investors will have to pay taxes each year on imputed annual income based on a comparable yield shown in the final term sheet or prospectus supplement. In addition, any gain recognized upon the sale or exchange, or at maturity, of these products will generally be treated as ordinary income. This especially pertains to principal protected issues. Please consult your tax advisor for guidance. Additional vulnerabilities may include loss of principal and the possibility that at maturity the investor will own the underlying asset at a depressed price. Interest rates and time remaining until maturity are all factors that may affect the value of the structured product. As with any investment selection, structured products should be purchased as a limited percentage of your portfolio and overall investable assets.

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Jun 4, 2024

What is FINRA Arbitration? Disputes, Process, and Guide

This is your definitive guide to FINRA arbitration in 2024. In this article you will learn: how disputes are handles under FINRA arbitration, the FINRA arbitration process, and what to expect if you are involved in a FINRA arbitration case. We will also cover the most important information that you will need to know about FINRA arbitration in 2024 so that you can be prepared if you find yourself involved in a case. What is FINRA Arbitration? FINRA arbitration is a forum for resolving disputes between investors and their brokerage firms or brokers, outside of court. It involves presenting evidence and arguments to a panel of arbitrators, who make a binding decision, called an award, on the dispute. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. As an investor, if you have suffered considerable investment losses caused by the behavior of your broker, then FINRA arbitration may be a viable solution. By filing for arbitration with FINRA, you could be entitled to recoupment or compensation from the brokerage firm responsible. It is highly recommended by FINRA that all investors seek the advice of a qualified FINRA attorney before filing for arbitration. FINRA Overview FINRA, the acronym for Financial Industry Regulatory Authority, governs disputes between investors and brokers and disputes between brokers. In this article, we solely concentrate on how an individual private investor files a claim to recover losses against their broker or financial advisor.  We will explain how FINRA fits into the securities regulatory scheme. We will discuss how FINRA provides services designed to resolve disputes in a cost-effective manner that is quicker than a traditional court and give some insight into how FINRA‘s arbitration procedure works. Next, we will examine the pros and cons of FINRA arbitration. Lastly, we will discuss how a highly experienced lawyer who has represented numerous clients successfully at FINRA arbitration can help you recover your damages from your broker or financial advisor.  What Is FINRA? FINRA is not a government agency. Unlike the Securities and Exchange Commission (SEC), FINRA is an organization established by Congress to oversee the brokerage industry. FINRA is a self-governing body and operates independently from the U.S. government. By contrast, the SEC more broadly regulates the buying and selling of securities on various exchanges such as the New York Stock Exchange, NASDAQ, and the American Stock Exchange. The SEC approves initial public offerings and secondary offerings and can halt trading to avoid a crash if necessary.  Additionally, the SEC has law enforcement powers. Along with the FBI and the U.S. Attorneys Office, the SEC can investigate acts surrounding the buying, selling, and issuing of securities. The U.S. Attorney can pursue charges for crimes relating to the stock market, such as insider trading and wire fraud. While the SEC has the authority to file civil lawsuits against any person or organization violating the securities statutes and the SEC’s rules. How Is FINRA Different from the SEC? FINRA has a different function than the SEC altogether. FINRA is a regulatory agency designed to promote public confidence in the brokerage industry and the financial markets as well. People will not invest if they believe they have trusted unscrupulous financial advisors to protect their economic interests. FINRA ensures that its members comply with the ethical rules of their profession, similar to a state bar for attorneys or a board of registration for medical professionals.  Congress granted FINRA authorization to investigate complaints investors make concerning misconduct, fraud, or potentially criminal behavior. As a result, FINRA can discipline its members if the agency determines that a broker violated its professional code. FINRA can assess fines, place restrictions on a broker’s authority, or expel the member from its ranks for an egregious violation. Anyone who suspects their broker or their financial advisor of wrongdoing should file a complaint with FINRA’s complaint center for investors.  You should be aware that FINRA’s rules do not restrict you from filing a complaint seeking an investigation into wrongdoing and pursuing monetary damages in arbitration.  FINRA Alternative Dispute Resolution FINRA provides a forum for investors to resolve their disputes with their brokers or financial advisors. In fact, FINRA boasts the largest securities dispute resolution forum in the US. FINRA offers arbitration services, as well as mediation services, as a means to avoid costly and inefficient litigation in courts. FINRA provides a fair, effective, and efficient forum to resolve broker disputes. FINRA’s goal is to settle disputes quickly and efficiently without the standard procedural and discovery requirements that bog down cases filed in courts.  How Does Arbitration Work with FINRA? Arbitration is an alternative to filing a case in civil court. Arbitration tends to be less formal and is designed to process claims more quickly than filing a lawsuit in court.  FINRA’s arbitration process involves resolving monetary disputes among brokers and investors. FINRA’s arbitrators can issue monetary judgments and have the authority to order a broker to deliver securities to you if that is a just resolution of the case.  An arbitration hearing is similar to a trial in court. The parties admit evidence and argue their side to a neutral person or panel of arbitrators who will decide the case. The arbitrator’s decision, called an award, is the judgment of the case and is final. You should know that you do not have the right to appeal the award to another arbitrator. You may have an opportunity to pursue an appeal in court under limited circumstances. However, you cannot elect to arbitrate your case and then file a complaint in court seeking a trial on the issues decided by the arbitrator.  FINRA’s arbitration forum operates under the rules set forth by the SEC. FINRA ensures that the platform serves as it should and facilitates ending disputes. No member of FINRA participates in the arbitration. FINRA merely provides the forum and enforces the rules. Arbitrators decide the cases.  The arbitrators typically need about 16 months to issue an award. This is a lot quicker than court, where cases...

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Dec 15, 2023

Announcing 2023 Winner – Robert Wayne Pearce Investor Fraud Awareness Scholarship

As promised, today we are announcing the 2023 winner of the Robert Wayne Pearce Investor Fraud Awareness Scholarship. Over the course of the year, we received applications from over 175 students from 95 schools around the country who all wrote quality essays about Risks of Investing in the Cryptocurrency Market. The winner of the $2,500 scholarship is Daniel Jimenez Cardona, a student at Valencia College located in Orlando, Florida, who wrote: Risks of Investing in the Cryptocurrency Market The cryptocurrency market has been a topic of fascination and debate since the inception of Bitcoin in 2009. Over the past decade, cryptocurrencies have gained immense popularity as alternative investments, promising high returns and financial independence. However, beneath the allure of this decentralized digital asset lies a complex landscape fraught with risks and uncertainties. In this essay, we will delve into the various risks associated with investing in the cryptocurrency market. One of the most prominent and widely acknowledged risks in the cryptocurrency market is its extreme volatility. Unlike traditional financial assets like stocks or bonds, cryptocurrencies are known for their price swings that can be both exhilarating and terrifying. Investors often experience rapid price fluctuations that can lead to substantial gains or painful losses within minutes. The speculative nature of the market, coupled with the absence of regulation, contributes to this rollercoaster ride.  Another significant risk stems from the lack of regulatory clarity surrounding cryptocurrencies. Different countries have adopted varying stances on digital currencies, leading to an ambiguous global landscape. Some nations have embraced cryptocurrencies and enacted regulations to govern them, while others have banned or restricted their use. This uncertainty makes it challenging for investors to assess the legal framework and potential future restrictions that may impact their investments. Cryptocurrencies operate on a blockchain, which is touted as a secure and immutable technology. However, this does not make them immune to security breaches. Hacks and cyberattacks on cryptocurrency exchanges and wallets have been widespread, resulting in the loss of billions of dollars’ worth of digital assets. Investors are responsible for safeguarding their private keys and using secure platforms, but the risk of theft remains a constant concern. Investing in traditional financial markets offers investors a degree of protection through regulatory bodies and insurance schemes. In contrast, the cryptocurrency market lacks such safeguards. When a traditional bank fails, depositors are typically insured up to a certain amount. In the cryptocurrency world, if a platform goes bankrupt or is hacked, investors may have little to no recourse to recover their losses. This absence of consumer protection heightens the risk for those entering the market. The relatively small market capitalization of cryptocurrencies compared to traditional assets makes them susceptible to market manipulation. Pump-and-dump schemes, where the prices of certain cryptocurrencies are artificially inflated before being sold off at a profit, are not uncommon. Additionally, rumors and social media can play a significant role in influencing prices, leaving investors vulnerable to misinformation and coordinated efforts to drive market sentiment. Unlike stocks or bonds, cryptocurrencies do not generate income or dividends. Their value is often driven by speculation and market sentiment rather than intrinsic worth. This lack of fundamental value makes it challenging to assess whether a cryptocurrency is overvalued or undervalued, leading to investment decisions based on hype and trends rather than sound financial analysis. The success of cryptocurrencies as an investment is closely tied to their adoption for everyday use. While some cryptocurrencies like Bitcoin have gained mainstream recognition, they are not yet widely accepted for day-to-day transactions. Until cryptocurrencies achieve broader adoption and become an integral part of the global financial system, their long-term value remains uncertain. Investing in the cryptocurrency market can be an enticing prospect, offering the potential for substantial returns and financial independence. However, it is crucial for investors to recognize and understand the inherent risks associated with this nascent asset class. Volatility, regulatory uncertainty, security concerns, lack of consumer protections, market manipulation, absence of fundamental value, and limited adoption are all factors that contribute to the complex risk landscape of cryptocurrencies. As with any investment, due diligence, risk management, and a clear understanding of one’s risk tolerance are essential for navigating this ever-evolving market. While cryptocurrencies offer opportunities, they also demand caution and prudence from those who dare to venture into this exciting yet treacherous terrain. We thank all the other applicants for their efforts and announce that the next scholarship to be awarded December 15, 2024, will be given to the student who writes the most thoughtful essay about the Pros and Cons of a Balanced Portfolio.

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Nov 24, 2023

How Do I Recover My Northstar Financial Services (Bermuda), Ltd. Investment Losses?

Have you experienced significant financial losses with Northstar Financial Services (Bermuda) Ltd.? If you’re an investor reeling from this setback, you’re not alone. Many have faced similar challenges due to these investments. Our firm is dedicated to assisting investors like you. We understand the complexities of this situation and are prepared to help you navigate the legal avenues available to recover your losses. Reach out to us for a consultation and take the first step towards financial recovery. What Happened To My Northstar Financial Services (Bermuda)Investment? Navigating the Aftermath of Northstar Financial Services (Bermuda): A Guide for Investors The collapse of Northstar Financial Services (Bermuda) Ltd. has generated significant financial hardships for numerous investors. This guide provides a comprehensive overview of the situation and potential paths forward. Background: Northstar, formerly owned by Greg Lindberg (currently incarcerated for financial crimes), offered a range of financial products, primarily targeting foreign nationals. The company faced bankruptcy proceedings and legal issues prior to its liquidation in March 2021. Investor Impact: The company’s demise resulted in: Legal Options: Numerous investors are pursuing legal action through various avenues: Investment Losses? We Can Help Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A. Get A Free Consultation or, give us a ring at (800) 732-2889. How Do I Recover My Northstar Financial Services (Bermuda)Investment Losses? Recovery Resources: Investors should consider seeking expert legal counsel to fully understand their options and determine the most effective course of action. Additionally, resources are available through: Moving Forward: The Northstar Financial Services (Bermuda) debacle presents a challenging situation for investors. However, by understanding the situation, exploring legal options, and seeking professional guidance, investors can navigate this complex landscape and pursue potential avenues for recovery. This revised version maintains a professional tone while still addressing the emotional impact on investors. It emphasizes the specific actions investors can take and provides key resources to aid their recovery efforts. Because the Northstar Financial investment contracts were not being issuedwithin the U.S., they certainly required a higher level of scrutiny prior to beingsold to clients. Simply put, a certificate of deposit offered by a U.S. bankrequires a far lower level of scrutiny than an esoteric insurance or annuity-likeproduct offered by a Bermuda-based financial company. However, it appearsthat many brokerage firms failed to adhere to the standard required of themwhen selling the Northstar Financial investment contracts, including: Bancwest Investment Services J. P. Morgan Securities, LLC Bankoh Investment Services Ocean Financial Services Bank of Hawaii Raymond James & Associates, Inc. Cetera Investment Services Raymond James Financial Services Community America Financial Solutions SunTrust Investment Services East West Bank Truist Financial Services Hancock Whitney Investment Services United Nations Federal Credit Union J. P. Morgan Chase Bank Unionbanc Investment Services Recover Your Northstar Financial Services (Bermuda)Investment Losses in a FINRA Arbitration The Law Offices of Robert Wayne Pearce, P.A. is prepared to help investorswho have sustained damages or monetary losses not only in NorthstarFinancial investments but other investments in your account in FINRAarbitration. If you were one of those investors who have suffered losses, youshould seek the immediate advice of an experienced securities litigationattorney with more than 40 years of experience representing investors ininvestment fraud and broker-dealer negligence cases. It is imperative thatyou seek our consultation as soon as possible, as there are applicableeligibility rules and/or statutes of limitation that may forever bar your claimagainst the broker-dealer who sold you the Northstar Financial investments ifyou do not file your claim in a timely manner. We Don’t Get Paid Unless You Get Paid! The Law Offices of Robert Wayne Pearce, P.A. will accept most cases on acontingency fee basis. This means if we do not recover any of your money,you will not incur any fees owed to our firm. In other words, our attorney’sfees are collected only if we successfully settle your case or obtain a monetaryaward at the final arbitration hearing. We will also bear the cost of your casethrough the litigation process, and we will be reimbursed for such costs onlyif we are successful in recovering your monetary losses. Robert Wayne Pearce, P.A. Recovers Investment Losses The attorneys at the Law Offices of Robert Wayne Pearce, P.A. are ready andwilling to devote their experience to evaluate your case and, if it has merit,achieve the best possible outcome in an arbitration proceeding. For over 40years we have represented investors in arbitration and securities litigationmatters, including FINRA arbitration proceedings in nearly every state.Contact us now at 561-338-0037 or online to schedule your free initialconsultation.

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Nov 24, 2023

How Do I Recover My iCap Investment Losses?

The Law Offices of Robert Wayne Pearce, P.A. is currently investigating claimsagainst stockbrokers related to recommendations to purchase the variousiCap investments and is offering free consultations to those who havesuffered iCap investment losses. If you have suffered iCap investment losses,our experienced securities litigation attorneys are prepared to discuss thematter and provide their legal opinion as to whether you can recoverdamages against the broker-dealer who recommended and sold you one ormore of the iCap investments. Please contact our law firm at 561-338-0037 oronline for a free consultation. At the end of September 2023, it was reported that iCap Enterprises, Inc., areal estate investment holding company and its many affiliates (“collectively“iCap”) through which it raised capital filed for bankruptcy under Chapter 11 ofthe United States Bankruptcy Code in the Eastern District of Washington. It isestimated that iCap has perhaps $50 million in assets and over $500 millionin liabilities. It stopped making the interest payments due the investorsapproximately 6 months prior to filing bankruptcy. The lopsided amount ofdebt relative to the assets indicates that any reorganization or liquidation willleave investors holding unsecured debt with substantial losses. What Happened To My iCap Investment? Most of the capital was raised through private placements of various forms ofdebt, bonds and notes. These were high yield, high risk, illiquid investmentsthat stockbrokers should have been wary of and not recommended toinvestors with conversative or moderate risk tolerances. Based upon what wehear from investors, many stockbrokers misrepresented the risk of theseinvestments and recommended them anyway in violation of their fiduciary. Investment Losses? We Can Help Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A. Get A Free Consultation or, give us a ring at (800) 732-2889. Who Are The iCap Companies that Filed Bankruptcy? The recently filed bankruptcy is a consolidated bankruptcy intended tobenefit iCap and not the investors by wiping out the various companiesunsecured debt. You might hear that the debt is simply being restructured,However, don’t be fooled into thinking that the holders of the unsecuredbonds and notes will get any of their money back in the bankruptcy. If youare an investor in any unsecured bonds and notes in the following companies, you should start exploring alternative avenues other thanthemselves to recover your investment losses: iCap Broadway LLC VH Senior Care LLC iCap Realty LLC iCap Pacific Development LLC Senza Kenmore, LLC UW 17TH AVE, LLC 725 Broadway, LLC iCap @ UW, LLC iCap Campbell Way LLC VH Willows Townhomes, LLC iCap Vault Management, LLC iCap Funding LLC iCap Holding 6 LLC iCap Holding LLC VH Pioneer Village LLC Vault Holding I, LLC iCap Management LLC VH 1121 14th, LLC iCap Enterprises, Inc. iCap Pacific Income 5 Fund, LLC iCap Holding 5 LLC iCap Vault, LLC iCap Equity LLC iCap Pacific Northwest Opportunityand Income Fund iCap Northwest Opportunity Fund, LLC Vault Holding, LLC iCap Pacific Income 4 Fund LLC iCap Investments, LLC iCap Vault 1, LLC VH 2nd Street Office, LLC iCap Pacific NW Management Given the predictable outcome of bankruptcy, it is likely that investors’ onlysource of recovery of their losses will be the stockbrokers and their brokeragefirms who offered and sold the securities investments to them. Don’t Be Discouraged By The iCap Bankruptcy! Chapter 11 bankruptcy protection is not the end of the line for investors.Investors should seek the opinion of a skilled and experienced securitiesattorney about getting just compensation for their investment losses. Broker-dealers and their agents who misrepresented and/or made unsuitablerecommendations about the iCap investments may still be held liable forlosses in investor accounts. In other words, an account holder can still file aFINRA arbitration against the broker-dealer to recover losses in iCap and itsaffiliates bonds, notes, and limited liability membership interests formisrepresentations, unsuitable recommendations, failure to conductadequate due diligence, negligence, etc. You should not let your broker-dealer or broker/financial advisor convince you otherwise. What Are The iCap Private Placement Investments? Private placements is a broad term that describes securities that are notoffered for sale through a public exchange. These can include promissorynotes, private equity offerings, small start-up businesses, etc. PrivatePlacements are issued under Regulation D under the Securities Act of 1933.Regulation D provides exemptions from the more rigorous Securities andExchange Commission (SEC) registration requirements and allowscompanies to offer and sell securities without extensive disclosures. It is theabsence of standard disclosure requirements that often creates theopportunity for fraud. The Securities Exchange Commission, federal courts, and FINRA have allfound that brokerage firms have a duty to conduct a reasonable investigationconcerning the private placements issuer’s representations concerning thesecurity. A brokerage firm’s due diligence obligation also stems fromsuitability obligations requiring the broker to have reasonable grounds tobelieve that a recommendation to purchase, sell, or exchange a security issuitable for the customer. In order to meet the due diligence obligation, thebrokerage firm and/or financial advisor must make reasonable efforts togather and analyze information about the private placement, the issuer andits management, the business prospects of the issuer, the assets held by or tobe acquired by the issuer, the claims being made by the issuer in the offeringmaterials, and the intended use of proceeds of the offering. The failure todetermine this and other material information would necessarily preclude afinancial advisor from disclosing to a customer the material aspects of atransaction. The iCap Investments Were Sold for High Commissions! It appears from our investigation that the iCap issuers of securities partneredwith other brokerage firms to privately sell the bonds, notes, andmembership interests to their retail customers. The commissions on suchsales by the brokerage firms were as high as 10%. Some of the firms that havesold iCap investments to their customers include: Advisory Group Equity Services, Ltd. Gardner Financial Services, Inc. Ausdal Financial Partners, Inc. Green Vista Capital, LLC Bradley Wealth Management, LLC IBN Financial Services, Inc. Cambridge Investment Research, Inc. IBS Financial Services Group Center Street Securities, Inc. Kingsbury Capital, Inc. Chauner Securities, Inc. Pariter Securities, LLC Claraphi Advisory Networks, LLC Somerset Securities, Inc. Cobalt Capital, Inc. Stillpoint Capital, LLC Financial Goal Securities, Inc. Titan Securities Freedom Investors Corp. Wall Street Strategies, Inc...

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Nov 24, 2023

GWG Holdings L Bonds: Complaints & Investment Losses

In recent news, it was reported that GWG Holdings, a Dallas, Texas-based asset manager that provides insurance services, as well as acquires life insurance policies in the secondary market, filed for bankruptcy on April 20, 2022. It is estimated that GWG Holdings has more than $2 billion in liabilities, including $1.3 billion of GWG L bonds, and has missed millions of dollars in combined interest and principal payments to investors owning the GWG L bond series. IMPORTANT: As of February 2022, GWG Holdings has failed to pay $13.6 million in payments to GWG L bondholders. These were high yield, high risk, illiquid investments that as stockbrokers should have been wary and not recommended to investors with conversative or moderate risk tolerances. The Law Offices of Robert Wayne Pearce, P.A. is currently investigating claims against stockbrokers related to recommendations to purchase GWG Holdings L bonds (“GWG L bonds”) and is offering free consultations to those who have suffered GWG L bond losses. If you have suffered GWG L bond investment losses, our experienced securities litigation attorneys are prepared to discuss the matter and provide their legal opinion as to whether you can recover damages against the broker-dealer who recommended and sold you GWG L bonds. Please contact our law firm at 561-338-0037 or online for a free consultation. What are GWG L Bonds? In 2012, GWG Holdings created and has since sold nearly $2 billion in GWG L bonds to investors. These high-yield bonds were unrated and illiquid investments and therefore, unsuitable for investors with conservative or moderate risk tolerances. Need Legal Help? Let’s talk. or, give us a ring at 561-338-0037. GWG Holdings issued the GWG L bonds to raise capital to purchase an individual life insurance policyholder seeking liquidity or cash by selling his/her life insurance policy to GWG Holdings for more than the surrender value but substantially less than the policy’s face value. GWG Holdings would then make the premium payments and hope to receive a payout worth greater than what it paid for the policy after the original policy matures or the policyholder passes away. The subject GWG L bonds were created to finance these life insurance policy purchases by GWG Holdings.  The problem for investors was the GWG L bond investments depended on insurance policy premiums and benefits being paid out according to assumptions and statistical models, thus making them speculative investments for investors seeking income and protection of their capital. Further, GWG L bonds had no secondary market, which prevented investors from liquidating should they need the cash immediately. In other words, money used to purchase GWG L bonds was essentially trapped from the moment of purchase. Moreover, the only collateral supposedly backing GWG Holdings are interests in GWG subsidiary companies that purportedly owned real assets, including the insurance policies. Don’t Be Discouraged by GWG Holdings’ Bankruptcy  As early as April 2022, news sources reported that GWG Holdings was filing for Chapter 11 bankruptcy protection. However, this news should not stop investors from seeking the opinion of a skilled and experienced securities attorney and getting just compensation. Broker-dealers and their agents who misrepresented and/or made unsuitable recommendations as to the GWG L bonds may still be held liable for losses in investor accounts. In other words, an account holder can still file a FINRA arbitration against the broker-dealer to recover losses in GWG L bonds for misrepresentations, unsuitable recommendations, failure to conduct adequate due diligence, negligence, etc. You should not let your broker-dealer or broker/financial advisor convince you otherwise. Robert Wayne Pearce, P.A. Recovers Investment Losses The attorneys at Law Offices of Robert Wayne Pearce, P.A. are experienced in litigating high-yield and speculative fixed-income instrument securities loss cases. For over 40 years we have represented investors in arbitration and securities litigation matters, including FINRA arbitration proceedings in nearly every state. Contact us now at 561-338-0037 or contact us online to schedule your free initial consultation.  GWB L Bonds Were Sold for High Commissions! According to GWG Holdings, the GWG L bonds were sold by Emerson Equity, the managing broker-dealer, which partnered with other brokerage firms that also sold the L bonds to their retail customers. The commissions on such sales by the brokerage firms were as high as 8%. The Law Offices of Robert Wayne Pearce, P.A. suspects that many other broker-dealers were involved in the recommendation and sale of the GWG L bonds to their customers. Some of the firms alleged to have sold L bonds to their customers include: If the name of your broker-dealer does not appear on the list above, do not be alarmed. Rather, call us at 561-338–0037 or contact us online for free consultation to discuss whether you may have a claim to recover damages. Recover Your GWG L Bond Investment Losses in a FINRA Arbitration The Law Offices of Robert Wayne Pearce, P.A. is prepared to help investors who have sustained damages or monetary losses not only in GWG L bonds but other investments in your account in FINRA arbitration. If you were one of those investors who have suffered losses, you should seek the immediate advice of an experienced investment fraud attorney with more than 40 years of experience representing investors in investment fraud and broker-dealer negligence cases. It is imperative that you seek our consultation as soon as possible, as there are applicable eligibility rule and/or statutes of limitation that may forever bar your claim against the broker-dealer who sold you the GWG L bonds if you do not file your claim in a timely manner.  We Don’t Get Paid Unless You Get Paid! The Law Offices of Robert Wayne Pearce, P.A. accepts cases on a contingency fee basis. This means if we do not recover money for you, you will not incur any fees owed to our firm. In other words, our attorney’s fees are collected only if we successfully settle your case or obtain a monetary award at the final arbitration hearing. We will also bear the cost of your case through the litigation...

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