Erez Law is currently investigating Lincoln Financial Advisors Corporation financial advisor Philip Moshier (CRD# 853169) regarding unsuitable, highly risky, over-concentrated, and illiquid investments involving a real estate investment trust (REIT).
REITs are companies that own, operate or finance income-producing real estate. REITs often trades on major exchanges like other securities and provide investors with a liquid stake in real estate.
Moshier has been registered with Lincoln Financial Advisors Corporation in Solon, Ohio since 1998. Moshier has been the subject of four customer complaints between 2004 and 2018, two of which were denied, according to his CRD report:
- April 2018. “Customer alleges the RR recommended an unsuitable, highly risky, over-concentrated, and illiquid investment plan in 2008.” The customer is seeking $186,000 in damages and the case is currently pending.
- April 2004. “Complainant alleges representative misrepresented the guarantees under the guaranteed minimum income benefit (gmib) rider when purchasing a variable annuity in December 2003 and questions fees paid for mutual funds.” The case was settled for $22,841.61.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Lincoln Financial Advisors Corporation may be liable for investment or other losses suffered by Moshier’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.