Benjamin Belanger Under Scrutiny
Investors, beware! Noted stockbroker from Peoria, AZ, Mr. Benjamin William Belanger, casually known as Ben Belanger, is currently a source of concern among financial circles. To date, FINRA arbitration has deemed him liable to lawsuits. Reputed to have worked for Ameriprise Financial Services and at First Allied Securities, he is presently associated with Kestra Investment Services, a branch of Kestra Private Wealth Services, and can be found operating out of Peoria under his CRD 5293459 registration.
Investor Troubles & Belanger
Belanger’s professional dealings haven’t always been above board. In fact, to the detriment of his financial stature, the highest penalty he has ever forked out is an eye-watering sum of $75,000. This financial fiasco arose due to invalid suggestions he made to one of First Allied Securities customers—recommending an inadequate real estate investment trust (REIT). The impact of this on investors has been nothing short of costly.
Emphasizing the gravity of the situation, another accusation is biting at his heels. An unresolved arbitration claim awaits him, lodged by yet another First Allied customer. This comes at great expense, as the claim seeks a staggering $100,000 in damages. Moreover, this seeks recourse for Belanger’s unsuitable recommendation concerning a REIT investment, noting a recurrence of this reckless financial conduct.
For those unfamiliar, REITs form part of a broader category known as alternative investments—options beyond the norm such as stocks, bonds or cash. These generally include hedge funds, private capital, resources such as oil and gas, REITs, and infrastructure. Notoriously characterized by higher risk and fees, less liquidity and regulation, it is not an advisable venture for the faint-hearted investor.
Belanger’s Missteps Count Against Him
Belanger’s clients allege several instances of financial misconduct. Flags raised include unsuitable investment advice pertaining to REIT elements—ARC Healthcare Trust II (now known as Healthcare Trust Inc.), American Realty Capital Hospitality Trust, and its current manifestation, Hospitality Investors Trust Inc. These claims are of serious concern, leaving in their wake a growing number of financially compromised investors.
The Financial Industry Regulatory Authority (FINRA) is a governing entity dedicated to overseeing brokers and brokerage firms. They maintain strict regulations mandating the declaration of all customer disputes and complaints, as well as obligatory reporting of penalties levied through regulatory measures. Additionally, they stress the transparency of financial conditions such as liens, personal deflects, and bankruptcies.
Anyone who has been rendered a financial casualty by Ben Belanger’s investment advice has a golden opportunity. You can hold him accountable for the losses you’ve incurred, and seek legal action through FINRA arbitration. By taking up this option, no legal expenses will be incurred unless a successful case outcome is determined. This accessible attorney protection is offered nationwide, extending to those affected by the fraudulent actions of financial advisors and stockbrokers.
In the event you’ve experienced financial detriment in connection with Ben Belanger’s investments, contact a seasoned securities lawyer for a cost-free discussion of your situation. You’re not alone, and there are measures in place to hold accountable those who misuse their financial authority.
Remember, FINRA is here to protect you, and it’s important to report any concerns about your financial handling or account management. The future of your financial wellbeing is dependent on your proactive approach to these matters. Stay wise, stay informed, and stay protected.