A former client alleged that Boyer recommended unsuitable investments in relation to non-traded REIT purchases.
The Sonn Law Group is investigating allegations that Michele Boyer recommended unsuitable investments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Michele Boyer (CRD#: 5046676) was recently named in a customer dispute alleging negligence, suitability, and failure to supervise in relation to non-traded REIT investments. Boyer was employed by Concorde Investment Services during the period of the allegations.Â
November 2019 – “Claim is alleging negligence, suitability, and failure to supervise in relation to non-traded REIT purchases made in July and August of 2014.” The claimant is seeking $150,000. This matter is still pending.Â
According to public records, the clients were a married couple who alleged that Boyer purchased high-risk, speculative non-traded REITs, including Northstar Healthcare and Phillips Edison. Boyer also recommended her clients invest in Noble Realty Access Fund and other unsuitable and high-risk energy investments.
According to the complaint, Boyer informed her clients that they would not have to wait more than two years to sell their investments at a profit. Additionally, it is alleged that Concorde Investment Services, LLC failed to disclose the high fees and commission that Boyer earned for these investments, which were illiquid. It is also alleged that Boyer over-concentrated her clients’ portfolio in these high-risk and high-commission products.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Concorde Investment Services, LLC may be liable for investment or other losses suffered by Boyer’s customers.
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The Sonn Law Group is currently investigating allegations that Michele Boyer recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202Â or complete our contact form.
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