• May 3, 2023
• Cetera Advisors LLC

Joshua A. Green is a dually registered Broker and Investment Adviser at Cetera Investment Services LLC in New Port Richey, FL.

Broker’s Background

He entered the securities industry in 2005 and previously worked for BB&T Investment Services, Inc.; Suntrust Investment Services, Inc.; Wells Fargo Advisors, LLC; Fifth Third Securities, Inc.; WAMU Investments, Inc.; and Intersecurities, Inc.

Current And Past Allegations Of Conduct Leading To Investment Loss

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in June 2022, a customer dispute was filed against Joshua A. Green. The allegation states, “Claimants allege that they were over-concentrated in unsuitable structured notes, which resulted in losses.” The customer dispute is pending.

In addition, Joshua A. Green has been the subject of one other customer complaint, including the following:

• March 2022 — “Client is unhappy with the performance of her income note and states it was misrepresented. Allegation Period from 3/22/22 to 3/22/22.” The customer dispute was denied.

For a copy of Joshua A. Green’s FINRA BrokerCheck, click here.

We Help Investors Recover Investment Losses

In recent years, brokerage firms and Financial Advisors across the country have aggressively marketed and sold Steepener Notes, Adjustable Rate Market Notes, Spread Linked Notes and Structured Notes to retail customers.

Steepener Notes, Adjustable Rate Market Notes and Spread Linked Notes are not traditional investments but rather structured products. During the first 12-24 months, the Steepener Notes, Adjustable Rate Market Notes, Spread Linked Notes and Structured Notes generally pay above-average “teaser” rates of interest. However, for each year thereafter until maturity, which can often be 15-20 years, the interest the interest rate is determined by a complex formula that is correlated to a stock index, such as the S&P 500, a fixed income index or a derivative benchmark such as the Constant Maturity Swap Rate, or CMS Swap rate. Depending on the value of the benchmark, the rate of interest paid to the investor may increase to a cap set forth in the prospectus or decrease to zero. These nuances are set forth in the prospectus of the Steepener Notes, Adjustable Rate Market Notes, Spread Linked Notes and Structured Notes but generally not understood by retail customers.

In addition, some Steepener Notes, Adjustable Rate Market Notes, and Spread Linked Notes have call features. This enables the issuer to call (or redeem) the security prior to maturity if, for example, the interest rate environment requires the issuer to pay higher than expected rates of interest to the investor. Alternatively, if the interest rate environment permits the payment of a lower rate of interest, the issuer is under no requirement to call the security. The call feature creates an imbalanced risk/return environment for the customer, who is often lured into the investment with the prospect of higher investment returns. In reality, to the extent a higher return is warranted pursuant to the prospectus, the issuer has the right to call the security if certain other conditions are met. This eliminates the possibility of the investor continuing to receive the higher income.

The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at (800) 931-8452 or by email at mwolper@wolperlawfirm.com.