Founded in 1998, Triad Advisors LLC (“Triad”) is an independent broker-dealer, registered investment adviser (RIA), and insurance agency headquartered in Atlanta, Georgia. Per the firm’s Form ADV filed March 13, 2023, Triad had 9,176 accounts and $2.3B+ in regulatory assets under management (AUM). Triad’s brokers are licensed in all 50 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Financial Misconduct at Triad Advisors LLC
Triad is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.
Triad and brokers backed by Triad have a long history of misconduct. Per FINRA’s BrokerCheck report, the firm has 13 disclosures (8 regulatory events and 5 arbitrations).
In December 2021, FINRA initiated a claim against Triad, finding that the firm failed to reasonably supervise representatives’ recommendations of an alternative mutual fund. Some of Triad’s registered representative’s sold shares in the LJM Preservation and Growth Fund, causing 58 clients who invested to lose hundreds of thousands of dollars. Eventually LJM shut down after it lost 80% of its value. Triad failed to conduct reasonable due diligence regarding the Fund’s risks and features. Triad was required to address and remediate these issues. It was censured, fined $195,000, and ordered to pay $510,256.57, plus interest, in restitution to customers.
In February 2021, FINRA initiated a claim against Triad finding that it failed to establish and maintain a reasonable supervisory system to achieve compliance with suitability requirements regarding switching and short-term trading of Class A share mutual funds, failing to supervise such trading. Triad was censured, fined $150,000, and ordered to pay restitution of $43,998.48, plus interest.
Wondering If You Have a Claim? Contact Our Firm Now!
Meyer Wilson reclaimed $350 million for the victims of investment fraud or misconduct. Our attorneys are experienced in going up against the largest investment firms, such as Triad Advisors LLC, and our track record affirms our resources and expertise. Meyer Wilson has represented clients nationwide and internationally, in state and federal courts, and in securities arbitration. As an investor, you have a right to recover investments lost through unethical behavior or decisions made against your interests.
