April Wilson Allegedly Recommended Unsuitable Alternative Investments

April Wilson (CRD #: 4515321), a broker registered with Osaic Wealth, allegedly made unsuitable investment recommendations, according to her BrokerCheck record, accessed on November 1, 2024. If you want to know more about her alleged conduct as a broker, read on.

Investor Disputes

On September 28, 2024, multiple investors filed a dispute alleging that April Wilson recommended unsuitable investments and investment strategies involving illiquid alternative investments. They further allege that April Wilson encouraged them to hold those investments despite information about their prospects being available. This dispute is currently pending.

On January 17, 2023, an investor alleged that April Wilson made unsuitable recommendations of non-traded real estate investment trusts (REITs) and Business Development Company investments. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without allowing an outside review. Investors can potentially recover their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their age, tax status, and risk tolerance when making recommendations.

Investors who rely on brokers for investment recommendations can seek out FINRA arbitration and potentially recover their losses.

What are Real Estate Investment Trusts?

Real estate investment trusts (REITs) allow investors to generate returns from a real estate portfolio without taking on the cost and responsibility of managing the properties. However, REITs tend to be illiquid, making them unsuitable for many investors.

What are Business Development Companies?

Business Development Companies (BDCs) extend loans to small and medium-sized companies, typically those that are distressed. While the high interest rates charged by BDCs can translate into high returns for investors, the potential for the company to default on the loan and other risks can make BDCs unsuitable for some investors.

Background Information

April Wilson has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

April Wilson is a registered broker in 15 states and a registered investment adviser in Texas and Washington.

She has also worked for Hornor, Townsend & Kent (CRD#:4031) and Linsco/Private Ledger Corporation (CRD#:6413).

Kurta Law Can Help

If you worked with April Wilson and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.