Todd Avery, Advisor for Rite Financial Group

The Department is investigating allegations that Avery sold unregistered promissory notes.

The Sonn Law Group is investigating allegations that Todd Avery sold unregistered promissory notes. 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.

Todd Avery, Advisor for Rite Financial GroupTodd Avery (CRD#: 6252909) is currently a Registered Investment Advisor (RIA) with Rite Financial Group in Lexington, Kentucky. Rite Financial also does business as Douglas Hawkins Investments, LLC.

Avery is currently being investigated by the Commonwealth of Kentucky Public Department of Financial Institutions based on allegations that he, “placed clients into unregistered promissory notes and failed to provide prospectuses to the promissory note investors or otherwise provide required disclosure documents.”

As an SEC-registered investment adviser, Avery is considered a fiduciary to his clients, meaning he is obligated to put his clients’ interests ahead of his own. Unlike SEC-registered investment advisers, FINRA-registered brokers are only subject to a suitability duty of care, requiring that they only recommend investments that are “suitable” for their clients given their investment goals and risk tolerance.

Avery has no other disclosures on his Investment Advisor Public Disclosure record.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Todd Avery sold unregistered promissory notes. 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.

Sonn Law Group is investigating claims regarding Joel Eziekel Blum (CRD #4905379, Goshen, New York). Blum recently submitted an AWC in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 20 days. See FINRA Case #2014040186601. Blum was associated with Merrill Lynch from May 2008 until his termination in February 2014. Blum has been associated with Ameriprise Financial Services, Inc., since February 2014. The Form U-5 filed by Merrill Lynch to terminate Blum's registration states that he was discharged for "conduct including failure to contact clients in advance of entering orders in non-discretionary accounts and mismarking order tickets as unsolicited." FINRA found that Blum executed discretionary transactions in customer accounts without written authorization to do so. In addition, Blum mismarked order tickets in connection with these transactions, inaccurately indicating that the trades were unsolicited, according to FINRA. In entering into the AWC, Blum neither admitted or denied FINRA's findings. 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, Ameriprise or Merrill Lynch may be liable for investment or other losses suffered by Blum's customers. If you were a client of Ameriprise, Merrill Lynch, or Blum, and have suffered investment losses or financial irregularities, please contact Sonn Law Group to explore your legal options. Sonn Law Group is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. To learn more, please call us at 844-689-5754 or complete our "contact form."
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