National investment loss lawyers KlaymanToskes is investigating broker Peter Shen (CRD# 5769894) of Independent Financial Group and Ni Advisors after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $1,500,000 in damages due to unsuitable investment recommendations that were not in line with the customer’s investment objectives.
Further, the customer alleges that their accounts were overconcentrated, and that there was not a reasonable basis for the recommendation or the strategy employed. The complaint allegedly relates to Alternative Investments in Real Estate Investment Trusts (“REITs”) and Business Development Companies (“BDCs”).
According to FINRA BrokerCheck, Lei Shen a/k/a Peter Shen is currently registered as a broker with Ni Advisors, and was previously registered with Independent Financial Group from 2015 to 2020 in Orange, CA. Shen has two additional customer complaints disclosed, which have been collectively settled in favor of investors for $915,000. One of the complaints alleged that REITs sold by Shen were unsuitable, while he was associated with Independent Financial Group.
Investors that suffered losses with broker Peter Shen are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The articles linked below contain important information relating to KlaymanToskes’ investigations of broker Peter Shen:
If you suffered losses with broker Peter Shen, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
*Exclusive of attorneys fees and costs.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Peter Shen. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA, brokerage firms such as Independent Financial Group and Ni Advisors are responsible for the supervision of all of the activities of their registered brokers and investment advisors. Investors may be entitled to a financial recovery if their brokerage firm failed to supervise the representative managing their brokerage account, and/or if their broker/advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Peter Shen, or have concerns regarding your investment portfolio at Independent Financial Group or Ni Advisors, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.