1.800.931.8452
We can help recover your investment loss. Free consultations, always. CONTACT US

Former Kalos Capital And Current Berthel Fisher Broker, William Sines, Has Pending Customer Complaint Involving The Sale Of A REIT

William Sines (CRD #2190586) was a former Financial Advisor at Kalos Capital in Seminole, Florida. William Sines currently works for Berthel Fisher & Co. William Sines has been in the securities industry since the early 1990s and previously worked for SII Investments and Pruco Securities Corp.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on July 23, 2019, a customer complaint was reported on William Sines’ disclosure report, in which the customer alleged “the representative pressured her into liquidating an annuity which cost her thousands of dollars in surrender penalties and lost interest credit in order to invest her into a REIT which she feels was an inappropriate investment.” The alleged damages are $38,651 and the matter remains pending.

In addition, William Sines has three other disclosed customer complaints, including the following:
• November 2017—Customer alleges “unsuitable recommendations.” The matter was settled for $19,737.
• May 2007—Customer alleges “REITs are unsuitable for the Marrs Living Trust because they are considered illiquid.” The complaint was denied.
• December 2002—“Client alleges that the sale to her of 2 VA products in December 2000 and January 2001 were improper and unsuitable.” The dispute was settled for $36,000.

Non-traded REITs do not trade a public securities exchange. For this reason, non-traded REITs can be illiquid, meaning investors may be unable to sell their investments on demand. Typically, the commissions generated on non-traded REITs are higher than industry norm and may be subject to extreme volatility due to associated risk factors. Non-traded REITs are only suitable for investors with a long term investment horizon who are willing to accept higher levels of risk in their investments.

For a copy of William Sines’ CRD, click https://brokercheck.finra.org/individual/summary/2190586#disclosuresSection.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, 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.

Now is the time to talk to an investment loss recovery lawyer. We can help recover your investment loss. Free consultations, always.

Main Office - Fort Lauderdale

1250 S. Pine Island Road
Suite 325
Plantation, FL 33324
Phone: (800) 931-8452
(954)-406-1231

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis

Additional Office Locations (by appointment only)

Atlanta

3355 Lenox Road
Suite 7
Atlanta, GA 30326

Indianapolis

13295 N. Illinois St.
Suite 314
Indianapolis, IN 46032

New York City

275 Madison Avenue
Suite 705
New York, NY 10016

Dallas

3102 Maple Ave.
Suite 400
Dallas, TX 75201

Irvine

2600 Michelson Drive
Suite 1700
Irvine, CA 92612

Portland

5933 NE Win Sivers Drive
Suite 205
Portland, OR 97220

Denver

7900 E. Union Ave.
Suite 1100
Denver, CO 80237

Naperville

1700 Park Street
Suite 103
Naperville, IL 60563

Seattle

1001 Fourth Ave.
#3200
Seattle, WA 98154

We represent clients nationwide, including, but not limited to: Miami, Boca Raton, West Palm Beach, Sarasota, Tampa, Stuart, St. Petersburg, Vero Beach, Orlando, Jacksonville, Austin, Houston, Dallas, Washington DC, Charlotte, Boston, Baltimore, Phoenix, Scottsdale, Las Vegas, Los Angeles, San Diego, San Francisco, Chicago, Seattle, Portland, Denver, Salt Lake City, Fargo, Atlanta, Little Rock, Newark and St. Louis