Josh Oliver Involved in a REIT Dispute
Josh Oliver (CRD #: 4148333), a broker formerly registered with Pruco Securities in South Windsor, Connecticut, is facing a dispute involving a Real Estate Investment Trust (REIT), according to his BrokerCheck record, accessed on November 17, 2021. Keep reading for more details regarding the allegations.
On September 3, 2021, an investor alleged that in 2014, Josh Oliver of Pruco Securities recommended an unsuitable REIT. The investor further alleged that the investments were not appropriate for their investment objectives and suffered losses. The dispute is pending.
What are REITS?
A real estate investment trust (REIT) is an entity that holds a portfolio of income-producing real estate properties. A REIT could contain anything from office buildings and other commercial units to apartment buildings or healthcare facilities. By putting their money into a REIT, investors can own a share of those properties. REITs can be unsuitable due to their illiquid nature. Many REITs expect investors to keep their money in the investments for an extended period. REITs may also be unsuitable based on their underlying real estate investments.
If you lost money in unsuitable REITs, you might have a viable claim against your broker, and you should not hesitate to contact the securities attorneys of Kurta Law.
Unsuitable Investment Recommendations Violate FINRA Rule 2111
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
- Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
- These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.
Josh Oliver’s Resignation Details
On March 28, 2019, Josh Oliver voluntarily resigned from his position at Key Investment Services. This is after allegations that he was involved in an alleged attempt to access a customer’s account held at a third-party financial institution.
Josh Oliver has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
Josh Oliver has worked with the following firms:
- Pruco Securities (CRD#:5685)
- Key Investment Services (CRD#:136300)
- APW Capital (CRD#:43814)
- Citizens Securities (CRD#:39550)
- LPL Financial (CRD#:6413)
- Uvest Financial Services Group (CRD#:13787)
- Webster Investment ServiceS (CRD#:46588)
- Morgan Stanley DW (CRD#:7556)
Kurta Law Can Help
If you have suffered losses after working with Josh Oliver, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors. Kurta Law is a nationally recognized law firm and 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. Reach out today to start the process to recover your investment losses.