Investment Losses with Broker Russ Conrad? Contact KlaymanToskes

If you have lost money in the stock market due to fraud, misrepresentation, negligence, or for other reasons, we can help you. We have successfully recovered over $250 million in FINRA securities arbitrations.*

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Updated on: June 13, 2023

KlaymanToskes Seeks Recovery for Customer of Russ Conrad 

National investment loss attorneys KlaymanToskes continues investigating broker Russ Conrad a/k/a Gilbert Russell Conrad (CRD# 2746778) following the filing of a FINRA arbitration claim (no. 23-00927) against Conrad and his former firm, Cetera Advisors, in connection with their recommendation of unsuitable, illiquid, and speculative Alternative Investments. The customer is an 82-year-old widow seeking up to $5 million in recovery.

Conrad was previously licensed as a broker with J.P. Turner, which was later acquired by Cetera Advisors. He was then licensed with Summit Brokerage Services, Independent Financial Group, and Arkadios Capital. Conrad is currently registered as a broker with Coastal Equities, Inc. in Lewiston, NY. 

Customers of Russ Conrad who suffered investment losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.

Russ Conrad’s High-Risk Investment Recommendations:

According to the claim filed by KlaymanToskes, the customer sought low risk, income-producing investments that would not put her retirement savings at risk. Instead, Russ Conrad allegedly concentrated the customer’s funds in various private placement investments that were high-risk and lacked liquidity, against the customer’s needs and best interest. 

The Alternative Investments recommended by Conrad include the following:

  • American Realty Capital REIT (Hospitality Investors Trust, Inc.)
  • Bluerock Real Estate
  • DT Group
  • Daymark Realty
  • Texas Energy Holdings
  • Lightstone Value Plus REIT
  • Apartment Trust of America REIT
  • Wells Real Estate REIT II

What Are Brokers/Advisors and Their Firms Responsible For?

Brokerage/advisory firms and their brokers/investment advisors have a duty to disclose material facts concerning their investment recommendations, including those involving an investment’s potential risks. In addition, a firm’s misrepresentation or omission of material facts concerning investment recommendations is a sales practice violation, and is a basis for liability in a FINRA arbitration claim. 

According to the Securities and Exchange Commission’s “Regulation Best Interest Compliance Guide,” the SEC’s Regulation Best Interest (“Reg BI”) standard of conduct requires that financial professionals act in the best interest of their customers when making investment recommendations and requires that they place their customers’ interests ahead of their own.

KlaymanToskes can help you determine if your investment losses are the result of your broker/investment advisor’s failure to comply with the SEC’s Regulation Best Interest, and/or other federal and state securities laws. 

Contact attorney Lawrence L. Klayman for a free consultation at (888)-997-9956 or lklayman@klaymantoskes.com to discuss your legal options. All consultations are free and we do not collect attorney’s fees unless we obtain a financial recovery for you.

About KlaymanToskes

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.