Public records published by the Financial Industry Regulatory Authority (FINRA) on June 24, 2016 indicate that Wisconsin-based Sterne Agee Financial Services broker/adviser Chad Karl has received resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Karl (CRD# 2725476).
Chad Karl has spent 20 years in the securities industry and has been registered with Sterne Agee Financial Services in Janesville, Wisconsin since September 2014. Previous registrations include WRP Investments in Janesville, Wisconsin; Questar Capital in Minneapolis, Minnesota; Conseco Securities in Carmel, Indiana; Conseco Financial Services in Carmel, Indiana; and Conseco Equity Sales in Carmel, Indiana. He is a registered broker and investment adviser with seven US states: Arizona, Florida, Hawaii, Illinois, Missouri, New Mexico, and Wisconsin.
According to his BrokerCheck report, Chad Karl has received one customer complaint and one pending customer complaint.
In April 2016, a customer alleged Chad Karl, while employed at WRP Investments, recommended an unsuitable real estate investment. The customer is seeking damages between $100,000 and $174,000 in the pending complaint.
In 2014, a customer alleged Chad Karl, while employed at WRP Investments, recommended an unsuitable non-traded real estate investment trust. The complaint settled in March 2015 for $50,000, to which Mr. Karl individually contributed $50,000.
A real estate investment trust, or REIT, is an entity that owns assorted forms of real estate, or interests in real estate. As an investment product, REITs use the combined funds from a pool of investors to purchase real estate property; they can be publicly traded or privately held, traded on the stock market or not traded at all. As such, they are highly illiquid investments. While they have the benefit of extending new opportunities to investors who otherwise could not access certain real estate investments, non-traded REITs may be particularly risky for short-term investors and even long-term investors. They are additionally taxed on an individual level and can lead to property taxes as high as 25% of the sum operating expenses.
If you have lost money investing with Chad Karl, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.