Haselkorn & Thibaut Opens Investigation into Anita Lester and Brookstone Wealth Advisors
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Haselkorn & Thibaut, a national investment fraud law firm with over 50 years of experience, has opened an investigation into financial advisor Anita Lester (CRD# 4478199) and her current firm Brookstone Wealth Advisors. This investigation focuses on recent investor complaints alleging unsuitable investment recommendations and potential misrepresentations involving non-traded investment programs.
Understanding the Recent Complaints Against Anita Lester
If you’ve worked with Anita Lester or are considering her services, it’s important to understand the nature of recent investor complaints filed against her. The most significant concern involves a September 2025 complaint seeking $200,000 in damages. This complaint alleges that while representing Berthel Fisher & Company, Ms. Lester recommended unsuitable non-traded investment programs and made misrepresentations about these investments.
This isn’t the first time investors have raised concerns. In 2021, another client filed a complaint alleging that Ms. Lester “significantly concentrated” their portfolio in non-traded REITs (Real Estate Investment Trusts) that were unsuitable for their investment objectives. That complaint resulted in a $30,000 settlement in 2022.
What Are Non-Traded REITs and Why Do They Matter?
Non-traded REITs represent a complex investment product that may not be suitable for all investors. Here’s what makes them particularly concerning:
| Characteristic | Potential Risk to Investors |
|---|---|
| Limited Liquidity | Cannot easily sell or access your money when needed |
| High Fees | Upfront costs can exceed 10-15% of your investment |
| Lack of Transparency | Difficult to determine actual value of your investment |
| Concentration Risk | Over-allocation can expose portfolio to significant losses |
Anita Lester’s Professional Background and Current Registration
With 23 years of experience in the securities industry, Anita Lester currently operates out of Gurnee, Illinois, as an investment advisor with Brookstone Wealth Advisors, where she’s been registered since 2021. Her extensive career includes registrations with numerous firms, including:
- Berthel Fisher & Company (where both complaints originated)
- Wealth Watch Advisors
- BFC Planning
- Concorde Investment Services
- Jonathan Roberts Advisory Group
- Several other financial institutions
She holds licenses in Florida, Illinois, and Wisconsin, and has passed multiple securities examinations including the Series 7, Series 6, Series 63, and Series 66.
Red Flags Investors Should Consider
When evaluating your relationship with any financial advisor, including Anita Lester, consider these important warning signs:
1. Pattern of Similar Complaints: Multiple investors raising similar concerns about unsuitable non-traded investments suggests a potential pattern that warrants attention.
2. Concentration in Complex Products: If your portfolio is heavily weighted in non-traded REITs or other illiquid investments, this may indicate unsuitable investment recommendations.
3. Lack of Diversification: A properly balanced portfolio should include various asset classes. Over-concentration in any single investment type increases risk.
4. Misrepresentation Allegations: Claims that investment risks or characteristics were not properly disclosed are serious concerns that merit investigation.
What Should You Do If You’ve Suffered Investment Losses?
If you’ve worked with Anita Lester at Brookstone Wealth Advisors or any of her previous firms and experienced losses, especially in non-traded REITs or similar products, you may have legal options. Consider these steps:
- Review Your Account Statements: Look for concentrated positions in non-traded investments
- Document Your Losses: Gather all relevant paperwork and communications
- Check Your Advisor’s Background: Review their BrokerCheck report for additional disclosures
- Seek Professional Legal Guidance: An experienced securities attorney can evaluate your situation
Why Time Matters in Investment Fraud Cases
Securities arbitration claims are subject to strict time limitations. Most FINRA arbitration claims must be filed within six years of the event giving rise to the claim. Waiting too long could mean losing your right to recover losses, even if you have a valid claim.
How Haselkorn & Thibaut Can Help
With a 98% success rate and millions recovered for clients, Haselkorn & Thibaut understands the complexities of investment fraud cases. Our team works on a contingency basis, meaning no recovery, no fee. We’re committed to helping investors understand their rights and options when dealing with potential investment misconduct.
If you’ve suffered losses while working with Anita Lester or Brookstone Wealth Advisors, particularly involving non-traded REITs or other complex investment products, don’t wait to explore your options. The investigation into these matters is ongoing, and your experience could be crucial.
Take Action Today: Contact Haselkorn & Thibaut for a free, confidential consultation about your investment losses. Call 1-888-628-5590 to speak with our experienced team. We’ll review your situation, explain your options, and help you understand the best path forward. Remember, there’s no cost for the consultation, and we don’t get paid unless we recover money for you.
