Joseph Faherty Named in Disputes Involving REITs

Joseph Faherty (CRD #: 2258287), a broker registered with LPL Financial, has been involved in several investor disputes, according to his BrokerCheck record, accessed on November 13, 2024. Keep reading if you have questions about his alleged conduct as a broker.

Denied Disputes

On October 8, 2024, an investor filed a dispute alleging that Joseph Faherty misrepresented a non-traded real estate investment trust (REIT). This dispute was denied by the firm.

Another dispute, filed on July 28, 2016, an investor alleged that Joseph Faherty poorly managed the client’s joint account, resulting in a reduction in account value. The client also made allegations concerning REITs. This dispute sought $800,000 in damages but the firm denied the dispute.

Investors should be aware, however, that firms can deny disputes without an external review. It’s still possible to recover damages following a denial and investors may want to pursue FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material facts, such as an investment’s potential returns, risks, or fees.

What are REITs?

A real estate investment trust (REIT) allows investors to pool their funds together in a portfolio of real estate and earn returns without the responsibility of managing the properties themselves. 

However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

Background Information

Joseph Faherty has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• Series 52TO – Municipal Securities Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 53 – Municipal Securities Principal Examination
• Series 24 – General Securities Principal Examination

Joseph Faherty is a registered broker in 18 states and a registered investment adviser in New Jersey.

He has also worked for the following firms:

• Royal Alliance Associates (CRD#:23131)
• UBS Financial Services (CRD#:8174)
• A. G. Edwards & Sons (CRD#:4)
• Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Joseph Faherty 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.