Articles Tagged with Master Limited Partnerships

Our attorneys are investigating Bloomfield Hills, Michigan Centaurus Financial, Inc. (CRD# 30833) broker David B. White (CRD# 1382131) over numerous complaints alleging unsuitable recommendations in oil and gas investments such as non-traded REITs, oil and gas programs and limited partnerships.

David B. White’s FINRA BrokerCheck Report

According to White’s FINRA BrokerCheck report, White has eleven (11) disclosures.  Five (5) of the disclosures have come within the last five (5) years.

The Risks of Investing in Master Limited Partnerships in the Energy Industry on

Higher volatility and lack of transparency could make these unsuitable vehicles for many investors

If your broker or financial advisor has recommended that you invest in Master Limited Partnerships (MLPs) in the energy industry, consider your options carefully and conduct proper due diligence. MLPs are a potentially risky investment and aren’t suitable for many investors.

What is a Master Limited Partnership (MLP)?

Our lawyers are investigating Wedbush Securities Inc. (“Wedbush”) (CRD# 877) broker William “Mark” Heiden (CRD# 2885156) for alleged unsuitable recommendations and overconcentration in various oil and gas investments.

Heiden, based out of Wedbush’s Newport Beach, California office, currently has four disclosures according to his FINRA BrokerCheck report.  According to the report, Heiden’s most recent disclosures are two FINRA arbitration filings, one filed in March 2016 and the other filed in October 2015.  Both are currently pending.

The 2015 FINRA arbitration alleges wrongful, intentional, fraudulent and deceptive activities, including unsuitable and unauthorized trading, falsifying documents, misrepresentation, and omission of material facts.  The FINRA arbitration alleges $1.5 million in damages.  In addition to those allegations, the 2016 FINRA arbitration alleges improper and unauthorized use of margin.  The 2016 FINRA arbitration alleges $200,000 in damages.

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