brokerwatch

Jeffrey Noard Allegedly Sold Illiquid, High Commission Unsuitable Investments

According to a customer dispute filed in July 2022, “Cabot Lodge (reps previous firm) and its agents recommended and sold claimants more than 1.1 million [i]n the following illiquid, high commission, high-risk investments that are not suitable for the claimants.” The customer alleged $100,000 in damages. The Broker Comment in the BrokerCheck Report states that “the filing firm and the registered rep have not received a copy of this claim and are relying on information filed by the previous firm.”

Brokerage firms like Cabot Lodge Securities must only recommend suitable investments to their customers. Unsuitable investment advice is an investment recommendation that is inappropriate with an investor’s investment objectives, risk tolerance, and investment time horizon. If you have invested with Jeffery Noard at Cabot Lodge Securities, please contact us today.

Jeffrey Noard Registration History

According to FINRA’s BrokerCheck, Noard was registered as a broker for Cabot Lodge Securities from June 2013 to June 2013. He was also registered as an investment adviser at CL Wealth Management from March 2011 to June 2020. Noard worked out of the branch location for each firm in Menomonee Falls, Wisconsin. Noard has been registered as a broker with Emerson Equity since 2020, and remains based in Menomonee Falls, Wisconsin.

Jeffrey Noard Previously Suspended, Fined by FINRA for GWG Sales

In July 2015, FINRA disclosed a Hearing Panel Decision in which it fined Noard $2,500 and suspended him 10 days for an unsuitable investment recommendation to one of his elderly customers in GWG Debentures. The unsuitable investment recommendation occurred while Noard was registered with Allied Beacon Partners. Among other things, FINRA stated in its Decision that Noard discounted the risk disclosures to his customers and failed to make an independent, customer-specific suitability determination.

Jefffey Noard and the GPB Lawsuit

Multiple lawsuits have been filed and multiple regulatory matters have been initiated, alleging that GPB Capital Holdings has been engaged in wrongdoing.  A former GPB Holdings partner alleged that “GPB paid its investors significant returns based upon falsified financial information”.

Our investigation into the various GPB private placement funds includes, but is not limited to: GPB Automotive Portfolio LP, GPB Cold Storage LP, GPB Eurobond Finance PLC, GPB Holdings II LP, GPB Holdings III LP, GPB Holdings Qualified LP, GPB Holdings LP, GPB NYC Development LP, GPB Scientific LLC, GPB Waste Management LP, GPB Waste Management Fund LP, and many more.

Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

Based on our experience, we believe that there are more investors who have been the victims of Jeffrey Noard’s alleged broker misconduct and investment fraud. If you invested with Jeffrey Noard of Premier Legacy Wealth Management, contact Peiffer Wolf immediately for a FREE Consultation.

Learn more about the GPB Investor Lawsuit here.