The Financial Industry Regulatory Authority (FINRA) provides a forum for mediation and arbitration to resolve disagreements and protect investors. In general, a dispute based on your financial advisor’s misconduct could take 12 to 18 months to resolve. If you have other questions about this process or are ready to proceed with a claim, contact our FINRA arbitration attorneys today. SCHEDULE A FREE CONSULTATION What Factors Affect How Long the FINRA Arbitration Process Takes? The official answer from FINRA is that it takes about 16 months to close a case that requires an arbitration hear ..read more

New secondary market pricing on the Priority Income Fund of $7.50 per share reflects that the sponsor’s NAV is roughly 40% too high.  Recent transactions in the secondary trading market at CTTAUCTIONS for the Priority Income Fund reflect that the illiquid private investment trades at approximately $7.50 a share. Since this is a market of buyers and sellers, with active bids and offers, this price represents the fund’s current market value. The sponsor is reporting a net asset value of $12.56 a share.  Unfortunately, investors are not able to redeem their shares reflected by the n ..read more

Oakes and Fosher files a new arbitration against Centaurus Financial for the actions of stockbroker John Starke.  Oakes and Fosher, LLC has initiated a new FINRA arbitration against Centaurus Financial based on the actions of John Starke. Our complaint alleges that Mr. Starke concentrated our client on alternative investments, such as the priority income fund, and that he made various misrepresentations in selling it and other non-traded real estate investment trusts (REITs) and alternative investments. As a result, we’re holding John Starke accountable for his actions by filing a Cen ..read more

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Dennis Fearing. According to his publicly available FINRA BrokerCheck report, Dennis Fearing has been the subject of multiple customer disputes over the course of his career. Dennis Fearing is a Minnesota-based securities broker. He had worked in the securities industry for thirty six years. During his career, he had been registered with ten different securities firms. IDS Financial Services (1984-1986) American Express Financial Advisors (1984-1996) Financial Advantage Brokerage Services ..read more

Oakes and Fosher is investigating Rene Javier Castro with Great Point Capital and previously with Center Street Securities for the sale of GWG Bonds. Rene Javier Castro was recently the subject of another arbitration alleging the unsuitable recommendation of GWG Bonds. Castro has been licensed in the securities industry since 1994 and registered with 16 different FINRA–licensed brokerage firms.   Castro has recently been the subject of four separate customer complaints alleging the recommendation of unsuitable securities, specifically the sale of GWG Bonds.  What Are GWG Bo ..read more

Sagepoint Financial’s Cynthia Komarek barred by FINRA and is the subject of four customer complaints.  Merrill Lynch employed Ms. Cynthia Komarek from 1991- 2008. She then became registered with Wells Fargo Advisors from 2008-2017 and then moved to Sagepoint Financial in 2017, being terminated by Sagepoint in 2020.  The Legal Complaints During her tenure in the securities industry, Ms. Cynthia Komarek was the subject of four separate customer complaints. The first complaint was back in 1999 regarding the sale of a variable annuity, in which the client alleged that Ms. Komarek ..read more

Oakes & Fosher is currently investigating FINRA–licensed stockbrokers who have sold GNMA, FNMA, FHLMC, and other mortgage bonds as short-term investments based on early payoff assumptions.  With the rise in interest rates, many investors are now stuck in long-term mortgage bonds sold as short-term investments. Stockbrokers pushed these long-term bonds since they could earn more in commission than selling a short-term bond or Certificate of Deposit (CD). Mortgage Bonds Explained Mortgage bonds are a type of investment backed by real estate loans. These loans are packaged into a p ..read more

Oakes & Fosher is currently investigating FINRA brokerage firms, such as UNESCO and stockbrokers, that recommend moving from a traditional investment into a Variable or Fixed Whole Life Insurance Product.  A disturbing trend among stockbrokers licensed as insurance agents is to recommend purchasing a “whole life” insurance policy as an investment. These products are sometimes referred to as LIRPs (Life Insurance Retirement Plans) and are sold to fund an individual’s retirement by using tax-free loans from the insurance policy. These policies involve high premiums, commissions, and ..read more

FINRA Arbitration Law Firm Oakes & Fosher brings an arbitration against Northland Securities for the actions of broker Robert Herje Robert Herje has been a licensed broker with Northland Securities since September 2002.  During this period, he has been the subject of two FINRA arbitrations involving alternative investments. The current claim brought by clients of Oakes & Fosher alleges that Mr. Herje overconcentrated their account in non-traded real estate investment trusts (REITs). Our FINRA arbitration law firm is actively engaged in client claims, ensuring that every invest ..read more

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Jeffrey Kennedy. According to his publicly available FINRA BrokerCheck report, Jeffrey Kennedy has been the subject of multiple customer disputes over the course of his career. Jeffrey Kennedy is an Illinois-based securities broker. He had worked in the securities industry for thirty six years. During his career, he had been registered with six different securities firms. Northwestern Mutual Investment Services (2006-2008) The O.N. Equity Sales Company (2008-2010) Center Street Securities ..read more