The White Law Group is investigating potential claims involving financial advisor Bradley Freimark and the liability his employer, Proequities, Inc., may have for failing to supervise him.
The firm recently filed a lawsuit on behalf of a Big Lake, Minnesota resident alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim further alleges that Proequities, Inc. unsuitably invested the client in a high risk oil and gas investment, D&L Energy 2010 A LTD. The claim seeks damages between $50,000 and $100,000. It is alleged that Proequities, Inc. failed to perform the necessary due diligence on these investments prior to recommending them to this particular investor.
Further, it is alleged that Bradley Freimark (CRD #2883389) was the financial advisor of record at the time of the investment recommendations. According to FINRA Broker Check, Freimark has 25 customer complaints since 2011, including allegations of negligence, misrepresentation and unsuitable investments.
Broker dealers are required to perform adequate due diligence on all investment recommendations to ensure that each investment recommendation that is made is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
Regulation D private placement investments typically have high sales commissions and due diligence fees. These high commissions and fees can provide brokers with an enormous incentive to push the product to unsuspecting investors who do not fully understand the risks. They may misrepresent the basic features of the products – usually focusing on the income potential and tax benefits while downplaying the risks.
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.
If you have suffered losses investing with Bradley Freimark, the securities attorneys at The White Law Group may be able to help you to recover your losses. Please contact the firm at 1-888-637-5510 for a free consultation.
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. Please visit https://www.whitesecuritieslaw.com for more information.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.