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Articles Tagged with Real Estate Investment Trusts

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Are-or-Were-Unsuitable-Non-Traded-REITs-in-Your-Portfolio-300x224-300x224Katherine Greer Nishnic (CRD #2499553, a/k/a Katherine Greer Martinson, Katherine Diane Nishnic, Katherine G. Nishnic) is a currently registered broker employed with Centaurus Financial, Inc. (CRD #30833) of Lexington, SC. Her previous employers include J.P. Turner & Company, L.L.C. (CRD #43177), Gunnallen Financial, Inc (CRD #17609) and First Allied Securities, Inc. (CRD #32444), also of Lexington, SC. She has been in the industry since 1994.

Nishnic is the subject of three disclosures, all recent customer disputes. The first was filed on 11/18/2018, alleging that Nishnic made unsuitable recommendations as well as “other allegations” that were not disclosed. The client is asking for damages of $100,000. Nishnic denies the allegations, and indicates that this may be a client’s family creating the dispute. This case is currently “pending.”

The next customer dispute was filed on 8/21/2017, alleging that the products sold to the client while she and her late husband were customers of Nishnic’s at a different brokerage were unsuitable. This client requests damages of $95,000. Nishnic also denies these allegations. The case was ultimately closed without any action.

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Silver Law Group is investigating Houston, Texas-based IMS Securities Inc. (CRD# 35567) broker Michael J. Spears (CRD# 4501523) after two (2) customers filed complaints against Spears regarding non-traded REITs.

According to Spears’ FINRA BrokerCheck report, two customers filed complaints against Spears in 2016.  The first, in August 2016, alleges negligence, misrepresentation, failure to supervise, breach of fiduciary duty and involves non-traded REITs.  The FINRA arbitration claim alleges over $1.6 million in damages.

The second, filed in July 2016, also involves real estate securities as well as variable annuities (“VAs”).  This FINRA arbitration complaint alleges negligence, overconcentration, breach of fiduciary duty, misrepresentations, failure to supervise and damages in the amount of $3 million.

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