National investment loss lawyers KlaymanToskes is investigating broker Michael Grady of American Trust Investment Services (CRD #1392784).
According to FINRA BrokerCheck, Michael Grady is currently facing a pending investor complaint alleging that he recommended an unsuitable investment in GWG Holdings, omitted material facts, failed to conduct due diligence, and violated the SEC’s Regulation Best Interest, resulting in alleged damages of $1,475,000.
In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal. Most recently, on January 29, 2024, financials were filed with the bankruptcy court by the GWG Wind Down Trustee which confirmed that L bondholders will only receive a small fraction of their investments from the bankruptcy.
Accordingly, it is in bondholders’ best legal interest to maximize their recovery of losses by filing FINRA arbitration claims against the brokerage firms and financial advisors who sold these unsuitable products, such as American Trust Investment Services.
Investors that suffered losses with broker Michael Grady are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Michael Grady, a financial advisor from Lisle, Illinois, is facing a customer complaint alleging $1,475,000 in investor damages due to unsuitable recommendations to invest in GWG, omission of fact, failure to conduct due diligence on the investment offering, and failure to act in the customer’s best interest.
According to FINRA BrokerCheck, Grady is employed as a broker with American Trust Investment Services and as an investment advisor with Asset Strategies, American Trust Investment Services Advisory, and Chicago Capital Management Advisors.
Grady has 39 years of experience in the financial industry. He has been registered with American Trust Investment Services since 2019. Before that, he worked with LaSalle St. Securities, Madison Securities, Lexington Securities, AG Edwards & Sons, Vanderbilt Securities, BC Financial Corporation, Wall Street West, and Blinder Robinson & Company.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Michael Grady. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage 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.
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 Michael Grady, or have concerns regarding your investment portfolio at American Trust Investment Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.