Nicholas Fougler Taggart, Broker with IMST Distributors, Named in Customer Dispute Alleging Unsuitable Alternative Investment Recommendations

INVESTORS: IMST Distributors broker Nicholas Fougler Taggart was named in a customer dispute alleging unsuitable alternative investment recommendations.

Nicholas Fougler Taggart (CRD: 4353676) is registered as a broker with IMST Distributors, where he has been employed since 2017. Taggert was previously registered as a broker and investment adviser with Cetera Advisors from 2012 until 2017.

Taggert has two disclosures on his BrokerCheck report. 

June 2021 Customer Dispute

• Status: Pending
• Allegations: Claimant alleges unsuitable alternative investment recommendations. Individual is not a party to the arbitration.
• Damage Amount Requested: $100,000.00
• Broker Comment: At the time the recommendations were made, each investment sponsor named in the claim had a demonstrable track record of profitable investing on behalf of shareholders. Furthermore, the broker named in the claim invested his own capital with two of the named sponsors, on one occasion paying a full sales commission to a third-party broker. The broker’s personal investment decisions were based on the same rationale as his recommendation to the claimant, namely his informed confidence in the expertise of the investment sponsors and the merits of the specific investments. Simply stated, these investment recommendations were well-founded based on available information, wholly suitable to the customer’s stated investment objectives, and clearly made in good faith.

June 2021 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges they were recommended to invest in high risk and high commissioned REIT.
• Damage Amount Requested: $25,000.00
• Settlement Amount: $7,500.00
• Broker Comment: Broker is not a party to the arbitration, complaint was lodged against his former broker dealer several years after he left the firm.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Nicholas Fougler Taggart. 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 866-827-3202 or complete our contact form.