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Last Updated: February 2025

Securities America, a major broker-dealer founded in 1984, has faced numerous regulatory actions and customer complaints throughout its history, raising significant concerns about its supervision practices and protection of investor interests. This comprehensive review examines Securities America’s track record and what it means for investors.

Key Details About Securities America

Securities America operated as a full-service broker-dealer headquartered in La Vista, Nebraska. The firm offered various investment products including mutual funds, annuities, stocks, bonds, and alternative investments. According to recent regulatory filings, Securities America ceased business operations as of June 14, 2024, transferring its operations to other entities.

Concerning Patterns and Trends

Analysis of Securities America’s regulatory history reveals several troubling patterns:

  1. Supervision Issues: Multiple regulatory actions cite failures in supervising financial advisors and implementing adequate compliance systems
  2. Due Diligence Failures: Regulators repeatedly found the firm failed to conduct proper due diligence on investment products before recommending them to clients
  3. Disclosure Problems: The firm has been cited for failing to make proper disclosures about investment risks and conflicts of interest
  4. Sales Practice Violations: Regular instances of unsuitable investment recommendations and misrepresentations to customers

Major Regulatory Actions and Legal Issues

Some of the most significant regulatory actions against Securities America include:

  • 2024 Cybersecurity Failures: FINRA fined the firm $150,000 for failing to protect customer information, affecting over 4,600 customers
  • 2023 529 Plan Issues: Required to pay $122,845 in restitution for failing to provide sales charge waivers to eligible customers
  • 2021 Medical Capital Notes Case: Multiple state regulators took action regarding the firm’s sale of fraudulent Medical Capital notes
  • 2016 Alternative Investment Issues: Fined $250,000 for inadequate due diligence on certain alternative investments
  • 2015 Variable Annuity Violations: Fined $275,000 for failing to apply proper sales charge discounts

Individual Financial Advisor Issues

We are investigating financial advisors with this firm and will shortly update with specific individuals who have been or are currently subject to customer complaints and regulatory scrutiny.

This section will detail specific complaints and regulatory actions against individual Securities America financial advisors.

Taking Action to Protect Your Rights

If you’ve lost money while working with Securities America or its financial advisors, you may have legal recourse to recover your losses. Common red flags include:

The investment fraud attorneys at Patil Law, P.C. specialize in helping investors recover losses caused by broker misconduct and inadequate supervision. Our experienced legal team offers free consultations to evaluate your case and explain your options for recovery.

Don’t wait to protect your financial interests. Contact  Patil Law, P.C . at 800-950-6553 to schedule your confidential consultation and learn how we can help you recover your investment losses.

Frequently Asked Questions About Securities America Claims

How do I know if I have a valid claim against Securities America?

Potential signs of a valid claim include unexpected losses, unauthorized trades, excessive fees, investments that don’t match your stated risk tolerance, or recommendations that seem inconsistent with your financial goals. Our attorneys can review your account statements and communications to determine if you have a viable case.

What is the time limit for filing a claim against Securities America?

Most investment-related claims have strict time limitations, typically between 2-6 years depending on the specific circumstances and jurisdiction. However, the clock may start running from different points (when the loss occurred, when you discovered the misconduct, etc.). It’s crucial to consult with an attorney as soon as you suspect wrongdoing to preserve your rights.

How much does it cost to pursue a claim against Securities America?

At Patil Law, P.C., we handle most investment fraud cases on a contingency fee basis. This means you pay no upfront legal fees, and we only get paid if we successfully recover money for you. During your free initial consultation, we’ll explain our fee structure in detail.

What types of compensation can I recover?

Depending on your case, you may be able to recover:

  • Direct investment losses
  • Lost opportunity costs
  • Interest
  • Account fees and commissions
  • Attorney fees and costs
  • In some cases, punitive damages

Will I have to go to court?

Most investment fraud claims are resolved through FINRA arbitration rather than court. This process is generally faster and less formal than traditional litigation. While some cases do settle before a final hearing, we prepare every case as if it will go to a full arbitration hearing to ensure the best possible outcome.

What documents do I need to pursue a claim?

Important documents include:

  • Account statements
  • New account forms
  • Investment confirmations
  • Correspondence with your broker
  • Marketing materials
  • Any notes from conversations with your broker Don’t worry if you don’t have all these documents – we can help obtain them during the legal process.

This post is intended solely for informational purposes and does not constitute legal advice. Every case is unique and should be evaluated individually by qualified legal counsel. For more brokerage firm investigations by Patil Law, please visit the Brokerage Firm Investigations page.