Erez Law is currently investigating former Cetera Advisors LLC broker Nicholas Taggart (CRD# 4353676) regarding real estate investment trust (REIT) losses. Nicholas Taggart has been registered with IMST Distributors, LLC in St. Louis, Missouri and ACR Alpine Capital Research, LLC in Canby, Oregon since 2017. Previously, Nicholas Taggart was registered with Cetera Advisors LLC in Portland, Oregon from 2012 to 2017.
According to public records, Nicholas Taggart recommended his clients invest in Hospitality Investors Trust Inc. (HIT), which is formerly known as American Realty Capital Hospitality Trust.
Nicholas Taggart Hospitality Investors Trust Inc. Losses
Nicholas Taggart has been the subject of two customer complaints in 2021, according to his CRD report:
- June 2021. “Claimant alleges unsuitable alternative investment recommendations. Individual is not a party to the arbitration.” The customer is seeking $100,000 in damages and the case is currently pending. The complaint was regarding real estate securities and took place while Nicholas Taggart was registered with Cetera Advisors LLC.
- June 2021. “Claimant alleges that they were recommended to invest in high risk and high commissioned REIT.” The customer sought $25,000 in damages and the case was settled for $7,500. The complaint was regarding real estate securities and took place while Nicholas Taggart was registered with Cetera Advisors LLC.
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, Cetera Advisors LLC may be liable for investment or other losses suffered by Nicholas Taggart’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.
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