Erez Law is currently investigating former Investors Capital Corp. broker Nathan McDonald (CRD# 2250393) regarding real estate investment trusts (REITs) investment losses. Nathan McDonald has been registered with Cetera Advisors LLC in Auburn, Maine since 2016. Previously, Nathan McDonald was registered with Investors Capital Corp. in Auburn, Maine from 2005 to 2016.
Nathan McDonald Customer Complaints
Nathan McDonald has been the subject of two customer complaints between 2018 and 2021, according to his CRD report:
- November 2021. “Claimant alleges that the registered rep did not properly discuss a diversified portfolio and recommended unsuitable alternative investments, such as REITs and private placement investments.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint took place while Nathan McDonald was registered with Investors Capital Corp.
- May 2018. “Suitability of investments made in 2015.” The customer sought $22,358.16 in damages and the case was settled for $9,000. The complaint was regarding variable annuities, direct investments, common and preferred stocks, and mutual fund losses and took place while Nathan McDonald was registered with Investors Capital Corp.
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, Investors Capital Corp. may be liable for investment or other losses suffered by Nathan McDonald’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.