National investment loss lawyers KlaymanToskes is investigating Frank Kuiper (CRD# 1774282) of Concorde Investment Services in connection with the filing of a customer complaint alleging between $1 million and $5 million in investor damages due to breach of fiduciary duty, negligence, and failure to supervise. The complaint relates to investments in Direct Participation Program and Limited Partnership Interests (DPP & LP Interests).
Investors that suffered losses with Frank Kuiper at Concorde Investment Services may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lawrence@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Frank Timothy Kuiper is currently registered as a broker with Concorde Investment Services and as an investment advisor with Concorde Asset Management in San Diego, CA.
Kuiper has been hit with a customer complaint which alleges between $1 million and $5 million in investor damages due to breach of fiduciary duty, negligence, and failure to supervise. The customer further alleges Violation of California Common Law Fraud. The complaint reportedly relates to investments in Direct Participation Program and Limited Partnership Interests (DPP & LP Interests).
Direct Participation Program (“DPP”) investments are considered illiquid due to not being traded on a market exchange. DPP’s are generally organized as a partnership whereby the investors or “limited partners” deliver their funds to a “general partner,” who invests the pooled capital on behalf of the group.
Typically when investors purchase DPP’s, they are unable to liquidate until their target maturity date. As a result, DPPs are likely only suitable for investors who can afford to have their funds tied up for long holding periods, sometimes decades.
While DPPs may provide investors with high returns and tax advantages when managed correctly, investors in DPPs may face severe losses as a result of poor management. Brokerage/advisory firms and their registered representatives may be held liable for DPP & LP Investment losses under the Securities Act of 1934 and the Financial Industry Regulatory Authority’s Rule 2310.
Customers of Frank Kuiper who suffered investment losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Brokers and financial advisors must consider an investment’s risk, ensure that they do not misrepresent material facts, and/or overconcentrate the customer’s portfolio in unsuitable investments. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making unsuitable investment recommendations.
Additionally, a representative that recommends investments for the purpose of being compensated through increased commissions, and enriches themselves rather than properly benefiting the client, is violating securities laws.
Firms may be liable for a failure to supervise in the event of a non-compliance with the securities industry standards of care for the handling of customer accounts which results in losses incurred by customers.
The violations discussed above each provide a basis for liability in a FINRA arbitration claim. FINRA arbitration is a more cost-effective process for investors, often occurring with increased speed and efficiency over a court proceeding. To learn more about additional securities violations, see our account activity violations page.
Former and current customers of Frank Kuiper who sustained significant losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com