Alex Reffett (CRD#: 5894110), a registered representative with the brokerage firm Arkadios Capital (CRD#: 282710), the advisory firm EPG Wealth Management LLC (CRD# 302075), and the advisory firm ACG Wealth Inc. (CRD#: 150419), all of Atlanta, Georgia, is currently involved in a investor dispute, according to his BrokerCheck record accessed on June 23, 2020. The investors are seeking more than $1.5 million in damages. What led to this dispute? Read on to learn more.
On May 15, 2020, clients alleged that Alex Reffett recommended unsuitable alternative investments. The activity in question occurred from 2014 through 2016. The client is seeking $1,575,881 in damages.
Alternative investments, also known as private placements, are exempt from registration with the Securities and Exchange Commission (SEC). These investments are exempt from registration because they are not marketed to the public at large, but only to a limited number of select investors. Only “accredited investors” are eligible to invest in alternative investments because alternative investments are riskier than traditional stocks or bonds, and thus carry the potential for greater returns—or greater losses. “Accredited investors” have a net worth of more than $1 million and an annual individual income of more than $200,000. But just because someone is an accredited investor doesn’t mean that any private placement is suitable for them. Brokers should still take into account an investor’s risk tolerance, need for liquidity, age, and other factors. For more information on alternative investments, see our article “What is Reg. D?”
Alex Reffett has passed the Series 66 – Uniform Combined State Law Examination, the Series 63 – Uniform Securities Agent State Law Examination, the SIE – Securities Industry Essentials Examination, and Series 7 – General Securities Representative Examination. He is registered to sell securities in Alabama, Arizona, California, Colorado, Florida, Georgia, Idaho, Kentucky, Louisiana, Massachusetts, Nevada, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas, and Wyoming. He is also a Registered Investment Adviser (RIA) in Alabama, Georgia, Louisiana, and Texas.
In addition to his current roles with the brokerage firm Arkadios Capital (CRD#: 282710), the advisory firm EPG Wealth Management LLC (CRD# 302075), and the advisory firm ACG Wealth Inc. (CRD#: 150419), Alex Reffett has also worked for two other brokerage firms in the past. He has also worked for Triad Advisors, Inc. (CRD#: 25803) and Investacorp, Inc. (CRD#: 7684).
If Alex Reffett was your broker and you have questions about your investments, particularly in private placements, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn about your options for investment loss recovery. Call (877) 238-4175 or email firstname.lastname@example.org for your free case consultation with a securities attorney.