brokerwatch

Stephen Curtis Lawler | First Allied Securities and Lawler Financial

According to our research and analysis of Stephen Lawler’s clients, we have found that Lawler has been placing retirement-age investors in untraded REITs like American Realty NYC REIT. If your investment portfolio consists of REITs, Contact Us Today.

Pitched as a way to provide investors with income and appreciation, ARC NYC REIT is promoted as “high-quality commercial real estate located within the five boroughs of New York City, particularly Manhattan.” Initially, NYC REIT was a non-traded REIT. Because it was not initially traded on an exchange, ARC NYC REIT was even less liquid than other REITs that trade on open exchanges. Investors believed that returns would be greater than 10% annually, but distributions stopped and there was a reverse stock split. To make matter worse, the initial public offering price was $25 per share, but that valuation has now plummeted below $12 per share.

According to FINRA’s BrokerCheck website for Public Disclosures, Stephen Lawler is the subject of 4 disclosures, two of which are still pending:

• May 2020 – Customer Dispute – Pending. Damage amount requested: $150,000. Allegation: “Claimants allege unsuitability with respect to REIT investments purchased between 2010-2014.”
• January 2020 – Bankruptcy – Pending. 
• November 2019 – Financial/ Civil Lien. Amount: $280,000
• November 2019 – Financial/Civil Lien. Amount: $1,793,596.31

Prior to First Allied Securities, Stephen Lawler was a broker registered with Investacorp, Integrated Resources Equity Corporation, FSC Securities Corporation, and Home Life Equity Sales Corp. Prior to Cetera Investment Advisers, Lawler was an investment adviser registered with Lawler Financial Advisory Corporation.

If you invested with Stephen Lawler of First Allied Securities and Lawler Financial, contact Peiffer Wolf immediately for a FREE Consultation.

To review Stephen Lawler’s BrokerCheck report, click here:

https://brokercheck.finra.org/individual/summary/1193477

*BrokerCheck is run by the Financial Industry Regulatory Authority, Inc. (FINRA)

Stephen Curtis Lawler Investigation

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 Lawler’s alleged broker misconduct and investment fraud. If you invested with Stephen Lawler of First Allied Securities and Lawler Financial, contact Peiffer Wolf immediately for a FREE Consultation. 585-310-5140.