A cloud of uncertainty has descended over the otherwise calm horizon of the financial industry. The epicenter? Jonathan Massey, a reputable broker associated with Equitable Advisors, who finds himself embroiled in an investor dispute according to his BrokerCheck record accessed on February 28, 2024.
Investor Allegations: A Closer Look
The saga dates back to November 21, 2023, when an investor accused Massey of advocating for a seemingly unsuitable Real Estate Investment Trust – colloquially referred to as REIT. An intriguing revelation indeed – but what exactly is an unsuitable investment?
The Principle of Suitability in Investments
According to FINRA Rule 2111, brokers like Jonathan Massey are directed to ensure the congruity between an investment and an investor’s financial goals. Violations of this rule could include suggesting unsuitable investment strategies or recommending high-risk, illiquid investments that may incur substantial expenses for the investor.
Unfortunately, unsuspecting investors who depend on their brokers for recommendations may fall prey to these pervasive issues. But the silver lining? There is legal recourse. Affected investors can indeed reclaim their losses by seeking FINRA arbitration.
REITs and the Issue of Liquidity
REITs allow investors to reap financial rewards from a portfolio of real estate, sans the nitty-gritty of property management. The caveat, however, is their notorious illiquidity, rendering them inadequate for many investors. This predicament is even more heightened for non-traded REITs, which dodge the gaze of the public exchange and hence can be a Herculean task to trade.
In the context of Jonathan Massey, his professional trajectory boasts an impressive ledger of passed exams like Series 65 Uniform Investment Adviser Law Examination, Series 63 Uniform Securities Agent State Law Examination, SIE – Securities Industry Essentials Examination, Series 7 General Securities Representative Examination, and Series 6 Investment Company Products/Variable Contracts Representative Examination. Being a registered broker in 16 states with a tenure of 29 years, Massey’s experience is evident through his associations with two establishments: Equitable Advisors and Mony Securities Corporation.
Pursuing Justice for Investors
If you have partnered with Jonathan Massey in your investment journey and now harbor doubts about your ventures, breathe easy. Expert legal assistance could be just a consultation away. A careful analysis of your investments might reveal inconsistencies or breaches that warrant action.
For nearly two decades, certain legal advocates have championed for investors to retrieve their investment losses from brokers and their firms. These firms undertake to represent investors against brokers and brokerage firms on a contingency basis. This means that fees are charged only if the attorneys manage to recover money on the investor’s behalf. With their help, securities fraud need not become a permanent stain on your financial history. It’s never too late to begin the recovery process.