National investment loss lawyers KlaymanToskes continues to investigate broker Ray Gallette (CRD#3041923) formerly of Realta Equities (formerly known as Coastal Equities) and Gallette Financial following the law firm’s filing of a customer complaint with the Financial Industry Regulatory Authority (“FINRA”) (Claim No. 25-01423), alleging investor damages up to $500,000 due to unsuitable recommendations to invest in GWG L Bonds.
In addition to the L Bonds, the investors suffered losses in other alternative investments, including GPB Holdings, US Energy, ATEL8, EquiTrust, and SmartStop REIT.
According to FINRA BrokerCheck, Ray Gallette was registered with Coastal Equities, Inc. in El Dorado Springs, MO from 2013 until he left the brokerage industry in January 2020. Of the 12 customer complaints filed involving Gallette, 9 have settled in favor of the investors for a total recovery of over $1,000,000.
Investors that suffered losses with Ray Gallette 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.
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’ investigation of broker Ray Gallette:
If you suffered losses with Ray Gallette or Lorraine Gallette at Gallette Financial and/or Coastal Equities, 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 attorney’s fees and costs.
KlaymanToskes is currently representing two retired investors in a FINRA arbitration case (FINRA Case No. 25-01423) seeking between $100,000 and $500,000 in damages for unsuitable recommendations made by Ray Gallette (CRD# 3041923) and Realta Equities (formerly known as Coastal Equities).
According to the claim, the investors sought conservative, fixed income investments to support their financial needs during retirement. Instead, Coastal Equities’ financial advisor, Ray Gallette, recommended Alternative Investments. The investments included GWG L Bonds, GPB Holdings, US Energy, ATEL8, EquiTrust, and SmartStop REIT.
Alternative Investments are illiquid and speculative in nature, meaning that they are not suitable for investors seeking low-risk, conservative investments. In April 2022, GWG Holdings, Inc. filed for bankruptcy, suspending their monthly dividends and leaving investors without access to their principal.
With the GWG Holdings’ bankruptcy plan offering only a 3% recovery to L bondholders, affected investors may pursue an additional potential recovery through a FINRA arbitration claim. It is critical that GWG L Bond investors explore all of their legal options outside of the bankruptcy.
If your financial advisor recommended GWG L Bonds or any other Alternative Investment listed above, KlaymanToskes strongly encourages you to contact our office for a free and confidential account review. Call our office today at (888) 997-9956 to speak with an attorney.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Ray Gallette. These signs could potentially indicate negligence, misconduct, 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.
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 Ray Gallette, or have concerns regarding your investment portfolio at Gallette Financial or Realta Equities (formerly known as Coastal Equities), contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss potential recovery options.