Tamara Glenn Of LPL Financial Faces Customer Dispute Over Alternative Investment Recommendations In Michigan

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Tamara Glenn, a former broker and investment advisor associated with LPL Financial LLC (CRD 6413), is facing a pending customer dispute alleging unsuitable investment recommendations in alternative investments. The complaint, filed on January 5, 2024, specifically questions the suitability of an investment in HTI, a direct participation program (DPP) and limited partnership (LP) interest in real estate securities.

According to FINRA BrokerCheck, Glenn was registered with LPL Financial LLC in the state of Michigan from June 13, 2023, to January 25, 2024. The customer dispute remains unresolved, and the damage amount requested has not been disclosed. Haselkorn & Thibaut, a national investment fraud law firm, is currently investigating Tamara Glenn and LPL Financial LLC in connection with this pending complaint.

Understanding Alternative Investments and FINRA Rules

Alternative investments, such as DPPs and LP interests in real estate securities, are often complex and carry unique risks compared to traditional investments like stocks and bonds. These investments may have limited liquidity, higher fees, and potential conflicts of interest. Investopedia explains that alternative investments can be attractive to investors seeking diversification and potentially higher returns, but they also come with increased risks and complexity.

FINRA Rule 2111, known as the “Suitability Rule,” requires brokers and investment advisors to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer based on their investment profile. This profile includes factors such as the customer’s age, financial situation, investment objectives, and risk tolerance.

Additionally, FINRA Rule 2310 specifically addresses DPPs and unlisted real estate investment trusts (REITs), requiring member firms to conduct a reasonable investigation of these offerings before recommending them to customers. Firms must also provide investors with a fair and balanced presentation of the risks and potential benefits associated with these investments.

The Importance of Suitable Investment Recommendations

Unsuitable investment recommendations can have severe consequences for investors, potentially leading to significant financial losses. When brokers or investment advisors fail to consider a customer’s investment profile and recommend inappropriate investments, they may be held liable for any resulting damages.

Investors rely on the expertise and guidance of their financial professionals to make informed decisions about their investments. When this trust is violated, and unsuitable recommendations are made, investors may have grounds to seek recovery of their losses through FINRA arbitration.

Haselkorn & Thibaut has extensive experience representing investors in cases involving unsuitable investment recommendations, including those related to alternative investments like DPPs and LP interests in real estate securities. With a 98% success rate and a “No Recovery, No Fee” policy, the firm is dedicated to helping investors protect their rights and recover their losses.

Red Flags and Seeking Help for Investment Fraud

Investors should be aware of potential red flags that may indicate financial advisor malpractice or unsuitable investment recommendations. These red flags include:

  • Recommendations that do not align with the investor’s risk tolerance or investment objectives
  • Inadequate disclosure of risks and potential conflicts of interest
  • Excessive concentration in a single investment or asset class
  • Pressure to make quick investment decisions without sufficient time to review offering documents

If investors suspect they have been the victim of investment fraud or unsuitable recommendations, they should contact an experienced investment fraud attorney to discuss their legal options. Haselkorn & Thibaut offers free consultations to help investors determine whether they have a valid claim and can assist them in pursuing recovery of their losses through FINRA arbitration.

With offices in Florida, New York, North Carolina, Arizona, and Texas, Haselkorn & Thibaut has a national presence and over 50 years of combined experience fighting for the rights of investors. To schedule a free consultation, investors can call the firm’s toll-free number at 1-888-628-5590.

Disclaimer: The information contained in any post on this website is derived from publicly available sources and is not guaranteed as to accuracy and often involves allegations which may or may not be proven at some point in the future. All posts are believed to be accurate as of the time of original posting, but the accuracy and details are subject to and expected to change over time and which may contain opinions of the author at the time posted.
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