Broker Gary Isler was allegedly involved in acts of misrepresentations, unsuitable investment recommendations, and fraud in connection with SOAEX (Spirit of America Energy Fund Class A), according to a customer dispute disclosure reported on Isler’s FINRA Brokercheck page, under review by securities lawyer Alan Rosca.
Securities lawyer Alan Rosca, of the Rosca Scarlato LLC law firm, is investigating activity related to Gary Walter Isler’s alleged involvement in acts of misrepresentation, unsuitable investment recommendations, and fraud according to the customer dispute disclosure.
Investors who believe they may have lost money in activity related to Gary Isler’s alleged involvement in broker misconduct are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their recovery options. Call 888-998-0530, via email at arosca@rscounsel.law, or complete the contact form on this webpage.
Gary Isler is the Subject of A Customer Dispute Disclosure Involving SOAEX
Broker Gary Walter Isler’s FINRA Brokercheck page shows a customer dispute disclosure filed on October 6, 2020 with allegations of unsuitability, misrepresentation, and fraud in connection with SOAEX (Spirit of America Energy Fund Class A).
Concerned about investments with
What is SOAEX
According to their website, the SOAEX Energy Fund is part of The Spirit of America Family of Funds, created exclusively for clients of David Lerner Associates, a FINRA member.
The SOAEX Fund’s marketed strategy is to invest “at least 80% of its assets in energy and energy related companies”. According to their website, more than 50% of SOAEX’s holdings is concentrated in the following ten companies:
- Enbridge, Inc
- Williams Cos, Inc.
- Enterprise Products Partners LP
- Kinder Morgan, Inc.
- MPLX LP
- Magellan Midstream Partners LP
- Dominion Energy, Inc.
- Cheniere Energy Partners LP
- Chevron Corporation
- Phillips 66 Partners LP
Investigation by securities lawyers Alan Rosca revealed that since its launch, SOAEX’s price declined from $90 per share to a little over $13 per share as of the date of this article.
Investors who believe they might have suffered losses as a result of investment in SOAEX are encouraged to contact an experienced investor lawyer to evaluate the next steps.
Due to High Degree of Risk Energy Investments Are Unsuitable for Many Investors
Energy investments, such as those in oil & gas, typically involve a high degree of risk, and such, they should be recommended only to investors to whom they are suitable. A broker or an investment adviser must perform a suitability test taking into account investor’s financial health, tax status, age, risk tolerance, liquidity, just to name a few criteria before making an investment recommendation.
Moreover, a broker dealer or an investment adviser is generally required to evaluate a security and flag potential problems before approving it to be recommended to its customers. When a firm fails to do so, it may be held liable for potential investment losses.
David Lerner Associates Broker Gary Isler Has Other Customer Dispute Disclosures
A customer filed a dispute involving Isler in January 2018 alleging unsuitability, misrepresentation/omissions, and breach of fiduciary duty. The customer requested $350,000 for the alleged damages and received a settlement of $15,862.50.
A third Isler customer filed a dispute with similar allegations of unsuitability and misrepresentation and omissions. The customer requested $340,000 for the alleged damages and received a settlement of $20,000.
In October 2015, an Isler customer was awarded $20,179.74 for a dispute alleging misrepresentation and suitability. The customer originally requested $162,407.95 for the alleged damages, as reported on his FINRA Brokercheck page.
Investors who believe they lost money as a result of alleged unsuitable investment recommendations and misrepresentation are encouraged to contact a seasoned attorney at Rosca Scarlato LLC law firm. Attorney Alan Rosca and his colleagues can be reached by phone at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Concerned about investments with
Gary Isler Has Been Registered with FINRA Since 1986
Broker Gary Walter Isler is currently registered with David Lerner Associates located in Lawrenceville, New Jersey. Isler has been employed with this FINRA member firm since January 1996.
Previously, Isler worked for David Lerner Associates located in Syosset, New York from October 1991 until December 1995. He also worked for the Dreyfus Service Corporation located in New York, New York from July 1987 until November 1991.
When Isler joined the securities industry, his first employer was Municipal Investors Service, he was employed there from June 1986 until January 1987, as reported on his FINRA Brokercheck page.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog. No allegations of misconduct are being made as to SOAEX.
Securities Lawyers Investigating Broker Gary Isler
Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Gary Isler’s customer dispute disclosures alleging acts of unsuitable investment recommendations, misrepresentation, and fraud.
The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for 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.
Investors who believe they lost money as a result of Gary Isler’s customer dispute disclosures alleging acts of unsuitable investment recommendations, misrepresentation, and fraud, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
Follow my blog with Bloglovin
