A FINRA customer complaint involving Orchard Securities broker Alma Edwards Faerber alleges that Ms. Faerber recommended alternative investments that were unsuitable. The claim, which was filed on December 11, 2020, is related to Ms. Faerber’s previous association with Triad Advisors. The claim seeks $1 million in damages.
Triad Advisors is one of the Advisor Group network broker-dealers. The firm was fined $150,000 by FINRA earlier this year for failing to adequately supervise short-term trades of mutual fund A shares and variable annuity exchanges. Last year, the firm reported three new investor claims related to private placements sales. According to InvestmentNews, per SEC filings, Advisor Group firms have increased legal reserves by about $4.4 million compared to the prior year.
Iorio Altamirano LLP is currently investigating claims on behalf of defrauded investors who were victims of the GPB funds scheme. GPB Capital sold unregistered, high commission limited partnership interests in eight alternative-asset investment funds. The GPB funds were marketed to independent broker-dealers and investment advisers who would, in turn, sell the GPB funds to their retail investors. According to publicly available records filed with the SEC, both Triad Advisors LLC and Orchard Securities, LLC likely received sales compensation for selling the GPB funds to retail investors.
If you have lost money with broker Alma Edwards Faerber, Triad Advisors LLC,or Orchard Securities, LLC, contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.
Alma Edwards Faerber (CRD#: 3125557)
Ms. Faerber has 20 years of experience in the securities industry and has been registered as a broker with Orchard Securities, LLC in Pleasant Grove, UT, since July 2016. She was registered with Triad Advisors in Provo, UT, between May 2009 and July 2016.
Ms. Faerber’s CRD shows a customer complaint alleging that she recommended alternative investments that were unsuitable. The complaint involves investments in limited partnership interests. It is unclear whether the claim is linked to the GPB funds or other private placement offerings. The securities were purchased prior to 2017, and the matter is still pending.
How to Recover Losses or Obtain a Free Consultation
Iorio Altamirano LLP represents investors in disputes with their financial advisors or brokerage firms, such as Triad Advisors and Orchard Securities, LLC.
If you have lost money with broker Alma Edwards Faerber, Triad Advisors LLC or Orchard Securities, LLC, contact FINRA arbitration lawyers August Iorio and Jorge Altamirano of Iorio Altamirano LLP at firstname.lastname@example.org, email@example.com or toll-free at (855) 430-4010 for a free and confidential evaluation of your account.
Iorio Altamirano LLP is a securities arbitration law firm based in New York, NY. We pursue FINRA arbitration claims nationwide on behalf of investors to recover financial losses arising out of wrongful conduct by financial advisors and brokerage firms.