IMPORTANT NOTICE TO CUSTOMERS OF BRITTANI SCHAEFER AND ARETE WEALTH MANAGEMENT WHO PURCHASED GWG L BOND INVESTMENTS
If You Suffered Losses With Financial Advisor Brittani Schaefer Contact the Law Firm of KlaymanToskes
NEW YORK, NY, UNITED STATES, September 23, 2024 /EINPresswire.com/ -- National investment loss and securities lawyers KlaymanToskes1 issues an important notice to customers of Arete Wealth Management and former broker Brittani Schaefer2, after their recommendations to purchase unsuitable GWG L Bond investments caused an investor to suffer $100,000 in damages.The law firm urges all customers of Brittani Schaefer and Arete Wealth Management who suffered investment losses in GWG L Bonds3, or any other investments, to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 24-01937) against Arete Wealth Management on the behalf of an investor who is seeking to recover damages of $100,000, in connection with being recommended to invest in unsuitable and illiquid GWG L Bond investments by his financial advisor, Brittani Schaefer (CRD# 6327801).
According to the claim filed by KlaymanToskes, the customer invested in the GWG L Bond based on the material representation made by Schaefer and Arete Wealth Management that the GWG L Bond would provide monthly income and the return of his principal at maturity. Prior to purchasing the GWG L Bond, the customer had never invested in an alternative investment.
While the GWG L Bonds were represented to the customer as a low risk investment, in January 2022, less than 12 months after the customer had purchased the investment, the L Bonds defaulted. In April of 2022, GWG Holdings, Inc. filed for Chapter 11 Bankruptcy.
Brokerage firms like Arete Wealth Management are required to conduct reasonable due diligence into the products they sell. KlaymanToskes’ investigation found that Arete Wealth Management ignored years of red flags associated with GWG, clearly evidencing GWG Holdings’ financial distress at the time of its unsuitable recommendation to the customer.
KlaymanToskes believes bondholders’ ideal option to maximize their recovery of losses is through the filing of a FINRA arbitration claim. The law firm is currently representing many GWG L Bondholders throughout the nation in FINRA arbitration claims against the brokerage firms and financial advisors that recommended the speculative L Bonds.
Current and former customers of Brittani Schaefer and/or any other financial advisor who suffered investment losses in GWG L Bonds are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com
1 http://klaymantoskes.com/contact/
2 http://klaymantoskes.com/broker-investigation/broker-misconduct-investigation-brittani-schaefer-arete-wealth-management/
3 http://klaymantoskes.com/gwg-holdings-l-bonds-lawsuit/
