Options for Clients Who Suffered Losses Due to Investments with Triad Advisors LLC Broker Mark Robare
Posted on Tuesday, May 19th, 2020 at 9:00 pm
Were you the victim of Triad Advisors LLC broker Mark Robare (CRD# 1057899)? Robare has been registered with Triad Advisors LLC in Houston, Texas since 2003.
In September 2014, the Securities and Exchange Commission (SEC) sanctioned Robare to a $50,000 civil and administrative penalty and fine and cease-and-desist proceedings were brought against Robare regarding, “This matter involves the investment adviser’s failure to disclose compensation it received through agreements with a registered broker-dealer and conflicts arising from that compensation. In 2004, the registered broker-dealer agreed to pay the adviser a specified amount for all client assets that it invested in certain mutual funds. The agreement created incentives for the adviser to favor particular mutual funds over other mutual funds or other investments and to favor the broker-dealer’s platform when giving investment advice to its clients. The adviser failed to disclose this agreement and the resulting conflicts of interest to its clients for years, and then only provided inadequate disclosure about it and a subsequent agreement with the registered broker-dealer. Robare, a principal for the adviser, knew about the agreements and the payments they generated for the adviser. Throughout this period, Robare reviewed and authorized the adviser’s form adv filings with the commission with knowledge of their contents. Robare knew the form adv filings failed to disclose or failed to adequately disclose the agreements and the conflicts of interest they presented.”
Robare has been the subject of one customer complaint in 2020, according to his CRD report:
March 2020. “Claimants allege an unsuitable investment strategy beginning in 2014.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint was regarding direct investments and real estate securities.
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, Triad Advisors LLC may be liable for investment or other losses suffered by Robare’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.Disclaimer: Clients are responsible for costs. Contingency fee is calculated before deducting costs incurred in the case.