SHERMAN OAKS, CA, USA, May 9, 2024 /EINPresswire.com/ — National investment loss and securities attorneys KlaymanToskes continues investigating investment advisor Angelo Talebi after his recommendations of high-risk alternative investments caused an investor up to $500,000 in damages. Customers of Angelo Talebi who suffered investment losses at Beverly Hills Financial Planners and/or Independent Financial Group should contact the law firm immediately at 888-997-9956.
KlaymanToskes reports the law firm has filed a FINRA arbitration claim (no. 24-00860) against Independent Financial Group on the behalf of a retired investor who is seeking to recover damages up to $500,000 in connection with being recommended to invest in unsuitable alternative investments by her financial advisor, Angelo Talebi (CRD# 2243829).
According to the lawsuit filed by KlaymanToskes, Talebi represented the alternative investments as low risk to the customer, and failed to explain the significant risk associated with the alternative investments, including lack of liquidity, lack of diversification, and lack of transparency. The alternative investments recommended by Independent Financial Group, through its advisor Angelo Talebi, include but are not limited to the following:
– ARC Healthcare Trust,
– American Realty Capital,
– NYC REIT, Inc.,
– CIM Real Estate Financial Trust, Inc.,
– Cole Credit Property Trust V,
– Healthcare Trust,
– Inland Real Estate Income Trust, and
– New York City REIT, Inc.
KlaymanToskes’ investigation found that the customer was continually reassured by Talebi and Independent Financial Group over the years that her investments were quality, sound investments. Further, the customer was unaware that the investments were illiquid over 10 years and that she would be unable to access her principal as late as 2024.
Angelo Talebi is currently registered as an investment advisor with Beverly Hills Financial Planners in Sherman Oaks, CA. Talebi has been hit with 40 customer complaints, the majority of which are related to his recommendations of unsuitable alternative investments. Talebi was also previously suspended by FINRA for 60 business days, and was fined $10,000, in connection with findings that while he was registered with Royal Alliance Associates, another brokerage firm, he executed trades in his customer’s account at a different FINRA member firm.
Financial advisors and their firms are responsible for providing suitable investment advice and must act in the best interest of their customers. Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of Angelo Talebi who suffered investment losses are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation 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.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com