Last Updated: April 2024
Arete Wealth Management Investigation Summary
Here’s what you need to know about Chicago, IL, headquartered brokerage firm Arete Wealth Mangement LLC:
- Name: Arete Wealth Management LLC
- Function: Stock Brokerage Firm/ Financial Advisory Firm
- Location: Over 100 offices nationwide.
- Number of Registered Representatives: 321
- CRD 44856
- Can Arete Wealth Mangement be sued in FINRA arbitration: Yes
- Sanctioned by Securities Regulators: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With A Broker Who is Registered with Arete Wealth Management ?
According to their website “Arete Wealth is a family of financial companies, including a full-service Broker Dealer (BD), Registered Investment Advisor(RIA) and insurance firm.” They have $6.9 billion in assets under management, 49 offices and 230 Wealth Advisors.
Individual stockbrokers/financial advisors (referred to as registered representatives in the industry) are required to be registered with a FINRA registered broker dealer. Often times that broker will operate under a “doing business as” (dba) name rather than under the name of the FINRA registered broker dealer where he or she is registered. For example, broker John Doe may be registered with Arete Wealth Mangment (or any of the other thousands of FINRA registered broker dealers nationwide) but his financial services business might be known in the local community as John Doe Financial Services or John Doe Investment Planning, etc.
Should you have a claim for stockbroker malpractice, fraud or negligence for the mishandling of your account, the broker dealer where the stockbroker is registered is liable for those losses under theory that a principal is liable for the damages caused by his agents acting within the scope of their employment.
If your Arete Wealth Management broker or financial advisor causes damages due to the mishandling of your account, Arete Wealth Management can be held liable.
See “How to Research Your Broker-What is a CRD?” for instructions on how to access FINRA and SEC regulatory records and learn more about a broker or a broker-dealer firm.
Arete Wealth Management’s Recent Regulatory Violations & Arbitrations- $1.1 Million Paid in 2023 to Settle Customer Claims
- Financial statements for Arete Wealth Management for calendar year 2023 disclose payment of $1,124,166 to resolve arbitration claims. The company reported receiving reimbursement of $987,000 related to the matter under its errors and omissions policy.
- In 2021 a FINRA arbitration panel in Detroit, MI, ordered Arete Wealth Management to pay a former customer $515,062 in damages resulting from a recommendation to purchase a risky, high-commission, illiquid private placement GPB Automotive.
- In 2012 FINRA fined Arete Wealth Management $25,000 and censured the firm to resolve allegations that the firm failed to perform adequate due diligence in connection with the sale of shares in a private offering. According to FINRA, although the firm took some investigative steps, it relied too heavily on the representations made by the issuer within the private placement memorandum.
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk.
Rex Securities Law Investigations of Registered Representatives Who Have Worked for Arete Wealth Management
- Vince Annable – Scottsdale, AZ
- Alvery Bartlett – St. Louis, MO
- Michael Blueweiss – Melville, New York
- Joseph Gileno – White Plains, NY
- Lawrence Greenfield – Woodland Hills, CA
- Jonathan Greer – Baton Rouge, LA
- Morgan Hill – Woddstock, GA
- Christopher Kazan – White Plains, NY
- Jeffrey Larson – St. Louis, MO
- Randy Larson – St. Louis, MO
- Keith Medeck – New York, NY
- Brad Meyers – Mission Viejo, CA/ Nolensville, TN
- Joey Miller – New Braunfels, Texas
- Michael Mirich – Escondido, CA
- Kenneth New – Merritt Island, FL
- Eric Rapczyk – Melville, New York
- Jack Thacker, Jr. – Bristol, VA
- Dennis Thurman – Sioux Falls, South Dakota
- Xin Xu – San Leandro, California
Recover Your Investment Losses With Arete Wealth Management With Rex Securities Law
If you have suffered investment losses in an account handled by a broker or financial advisor who is currently employed by or previously worked for Arete Wealth Management, contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
