Matt Neas, a Newbridge Securities Broker, Allegedly Made Unsuitable Recommendations of Unsuitable Risky ETF’s (Exchange Traded Funds) Such as Leveraged ETF’s, Short ETF’s, and ETF’s Connected to the VIX (The S&P Volatility Index)

Matt Neas, a Newbridge Securities broker, allegedly made unsuitable recommendations to  clients that they purportedly place the majority of their savings in volatile ETFs, including leveraged ETFs, short ETFs, and ETFs related to the VIX (the S&P volatility index), according to FINRA Records under review by attorney Alan Rosca.

Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating Matt Neas’s alleged unsuitable recommendations.

Investors who believe they may have lost money in activity related to Matt Neas’s alleged unsuitable recommendations are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

An Austin, Texas Couple Has Filed a FINRA Arbitration Claim Against Neas

For example, an Austin, Texas couple who allegedly lost a large amount of their life savings due to risky ETF investments filed a FINRA arbitration claim on February 12 against Newbridge Securities Corporation, according to reports from Texas under review by attorney Alan Rosca.

This incident also overlaps with reports regarding ups and downs in the stock market  that reportedly caused significant losses in certain ETFs and exchange traded notes (ETNs), including the Proshares Short VIX Short-Term Futures (SVXY) and Credit Suisse VelocityShares Daily Inverse VIX ST ETN (XIV).

Many investors may not realize the nuances of ETFs which have been designed to be bought and sold for only one or two trading sessions. Hence, the performance of ETFs can vary wildly from the ETFs’ respective benchmarks, and a large amount of investors do not understand said features. What is more, many brokers also do not recognize such volatility or may have not adequately informed investors about the nature of the ETFs.

Neas has been the subject of numerous prior customer complaints and recently was barred permanently from working in the securities industry after he allegedly failed to cooperate with a FINRA investigation into his business practices, according to his FINRA BrokerCheck Report.

Neas has not worked for Newbridge sine March of 2017 and currently is affiliated with Neas Financial Group in Austin, TX, FINRA notes.

Securities Lawyers Investigating

The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Matt Neas’s alleged unsuitable recommendations. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Matt Neas’s alleged unsuitable recommendations may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530 or via e-mail at arosca@roscalaw.com, or through the contact form on this webpage.

filed under: Investigations

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.