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Customer Disputes Continue to Pile Up Against Katherine Greer Nishnic of Centaurus Financial, Inc. for Recommendations of Unsuitable Investments, Including REITs

Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems.Katherine Greer Nishnic (CRD# 2499553) of Centaurus Financial, Inc. in Lexington, South Carolina, faces seven pending customer disputes, six of which arose this year. Prior to joining Centaurus Financial in 2015, Nishnic worked for First Allied Securities, Gunnallen Financial, Inc., and J.P. Turner & Company, a firm that has since been shut down due to numerous regulatory problems.

According to Greer’s CRD Report, published by the Financial Industry Regulatory Authority (FINRA), the following claims have been brought against Nishnic in 2019 alone:

  • May 2019 – Customer primarily alleges that the financial advisor recommended unsuitable investments and several other allegations associated therewith beginning in 2014 to present
  • May 2019 – Customer primarily alleges that the financial advisor recommended unsuitable investments and several other allegations associated therewith beginning in early 2015 through the end of 2017
  • June 2019 – Customer primarily alleges that the financial advisor recommended unsuitable investments and breached her fiduciary duty beginning in 2010 through 2019
  • August 2019 – During the period 2014 through 2019, the customer alleges that the Registered Representative misrepresented unsuitable investments and breached her fiduciary duty
  • September 2019 – During the period 2013 through 2019, the customer alleges that the Registered Representative mismanaged and misrepresented unsuitable investments
  • October 2019 – During the period 2010 through June 2018, the customer alleges that the Registered Representative misrepresented unsuitable investments

All of these claims seek between $100,000 and $138,000 in damages and are currently pending. Nishnic denies wrongdoing in each case.

Silver Law Group previously blogged about misconduct alleged against Nishnic. Since then, six more customer disputes have been filed against her. The investment products at issue in these disputes include, but are not limited to, certificates of deposit (CDs), corporate debt instruments, and real estate investment trusts (REITs).

Real Estate Investment Trusts (REITs)

It appears that some of the claims against Nishnic arose out of the recommendation and sale of REITs.  REITs are modeled after mutual funds. Typically, a company owns or finances income-producing real estate and in turn provides investors a revenue stream, diversification, and long-term capital appreciation. They are often peddled as sound retirement investments because they provide high dividend yields.

However, REITs are notoriously flawed. In recent years, the Securities and Exchange Commission (SEC) and FINRA have issued warnings and guidance on REITs, pointing to commissions and fees as high as 15%, lack of transparency, and lack of liquidity. Investors in some REITs have ended up with significant lost value and the inability to liquidate by selling on a market because many REITs are not publicly traded.

Did You Lose Money Investing With Katherine Greer Nishnic Of Centaurus Financial?

Silver Law Group has experience representing investors for claims of unsuitable investments, misrepresentations, breach of fiduciary duty, and more. If you or someone you know lost money investing with Katherine Greer Nishnic of Centaurus Financial, please contact the Silver Law Group toll free at (800)-975-4345 or e-mail ssilver@silverlaw.com for a confidential consultation.

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