FINRA Arbitration filed against NEXT Financial to recover alternative investment losses

ORCHARD PARK, N.Y. - Aug. 25, 2015 - PRLog -- The claim, filed against NEXT Financial, seeks recovery of investment losses between $500,000 and $999,999.

The claim filed by The White Law Group was filed on behalf of a New York investor and alleges claims for fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim specifically alleges that the investors were unsuitably invested in various alternative investments and that NEXT Financial only selected the investments because of the commissions generated as a result of the recommendation.  The claim further alleges that NEXT Financial failed to perform the proper due diligence on the investments prior to offering them for sale to its client.

Broker-dealers have a fiduciary duty to perform adequate due diligence on any investment prior to recommending them for sale to their clients and to ensure that the investments it recommends are appropriate for the client in light of the clients age, investment experience, net worth, and investment objectives.

The claim specifically involves the following high-risk alternative investments:

Behringer Harvard REIT I

Behringer Harvard Strategic Opportunity Fund II

U.S. Energy Platinum Energy Partners 2006 A LP

Finally, it is alleged that Glenn C. Wiggle (CRD #2730675) is the broker of record for this investor.

For more information on the claim filed by The White Law Group, please contact the firm's Chicago office at 312-238-9650.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.