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.
If you believe you lost money because of unsuitable recommendations, including the addition of Vida Longevity Fund to your portfolio, it is important to take action. Contact Peiffer Wolf Carr Kane & Conway for a FREE Consultation by calling 585-310-5140 or by filling out an online Contact Form on this website.
Vida Capital was founded in 2009 and, according to its website, “has three primary business lines including life settlement funds, a life settlement provider, and insurance linked securities funds. Vida is the largest independent life settlements manager in the space and the third largest overall.” Vida Capital is the manager of Vida Longevity Funds, an alternative investment whose value declined significantly and caused investors to lose money.
Alternative Investments are not regulated by the SEC (Securities and Exchange Commission). According to Business Insider:
Whereas traditional investments are governed by strict disclosure regulations and protections against fraud, alternative investments put the onus on the investor.
Alternative investments are not liquid, suitable only for a small number of investors, and lack transparency as to their issuers’ relevant financial information. Investment professionals sometimes recommend alternative investments to investors as a means to diversify and/or achieve higher returns. However, they sometimes fail to disclose to their customers the risks associated with such products, or even to make sure the alternative investments they offer are legitimate. Moreover, alternative investments often provide brokers and advisors with a higher commission.
Peiffer Wolf has begun another investigation into Vida Capital. Specifically, Peiffer Wolf is investigating any and all brokers and advisors who recommended Vida Longevity Fund to investors. If you invested in Vida Longevity Fund, Contact Peiffer Wolf for a FREE CONSULTATION by calling 585-310-5140 or by filling out a Contact Form on this website.
Investment professionals and securities broker-dealer firms are required to investigate in advance the investment products they offer to their customers. Any red flags must be checked. The due diligence process they are required to conduct as to alternative investments must be thorough. We represent investors when brokers or advisors fail in their duty to protect the investing public.
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.