WARNING! Impending Investigation: GARY RATHBUN, DOUGLAS MILLER, and TRIAD ADVISORS, INC.
Gary Rathbun, Douglas Miller, and Triad Advisors, Inc.
Have you lost money with financial advisor Gary Rathbun and Douglas S. Miller of Toledo, Ohio? We are investigating allegations made by FINRA, the Financial Industry Regulatory Authority, against Gary Rathbun and Douglas Scott Miller. FINRA barred Rathbun and Miller from the securities industry.
FINRA alleged that between 2010 and 2014, Rathbun and Miller sold over $25 million in six related LLCs to clients of their investment advisory firm, Private Wealth Consultants. They also sold $3.3 million in these investments to clients of their former brokerage firm, Triad Advisors, Inc.
FINRA alleged that they failed to disclose these sales to Triad Advisors, in violation of FINRA rules. It was also alleged that they charged these LLCs $500 per hour to “monitor” their customers’ investments in these LLCs. Rathbun and Miller were paid $600,000 for this “monitoring” arrangement. The LLCS were allegedly involved in factoring, equipment leasing, and venture lending. To settle these claims, both Rathbun and Miller were barred from the securities industry, although they still operate their investment advisory business, Private Wealth Consultants.
Gary Rathbun was a financial advisor and registered representative of Triad Advisors from October 2009 to July 2014. Douglas Scott Miller was affiliated with Triad Advisors from August 2005 to July 2014. They worked at a branch office in Toledo, Ohio.
Brokerage firms like Triad Advisors have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Ohio. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James, ProEquities, Securities America, National Securities Corp., and many others.
Click to view: Rathbun and Miller FINRA AWC
Click to view: Rathbun BrokerCheck 5.18.16
Click to view: Miller, Douglas BrokerCheck 5.18.16
If you lost money with Gary Rathbun, Douglas Miller, or Triad Advisors, please Contact Us at 720-599-3505 for a free evaluation of your case.