Adam Fritzsche – Adam Stuart Fritzsche, Financial Advisor Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Adam Fritzsche was a previously licensed financial advisor/broker with IFS Securities in Atlanta and Citizens Securities, Inc. in New London, Connecticut. in FINRA reports that Adam Fritzsche was suspended for 1 year in March 2017.
According to FINRA: Adam Fritzsche consented to the sanctions and to the entry of findings that Adam Fritzsche made unsuitable recommendations to customers that were inconsistent with the customers’ investment objectives and resulted in over-concentration of their liquid net worth in an alternative investment. The findings stated that the alternative investment was a speculative, illiquid investment that, according to its registration statement, was suitable only as a long-term investment for persons of adequate financial means who had no need for liquidity. At the time of Adam Fritzsche’s recommendations, all of the customers were retired and had conservative investment objectives. Adam Fritzsche’s recommendations resulted in an undue concentration of the customers’ liquid net worth in a single, high-risk, illiquid investment. The findings also stated that Adam Fritzsche caused his member firm’s books and records to be inaccurate by submitting forms that misrepresented the net worth of the customers. Adam Fritzsche attempted to circumvent the firm’s procedures, which prohibited over-concentrating customers’ liquid net worth in alternative investments, by overstating the customer’s net worth on forms he submitted to the firm on their behalf.
If you lost any money on investments with Adam Fritzsche, you may be able to recover your losses. If you lost money on investments with Adam Fritzsche and believe that the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Adam Fritzsche’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Adam Fritzsche and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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