White Plains, NY – There’s a famous saying, “The love of money is the root of all kinds of evil.” It makes you think, what about when this pursuit leads to financial wrongdoing that hurts investors? This is what’s at stake with claims against stockbroker Nicholas Jembelis, who is currently with David Lerner Associates.
Who is Nicholas Jembelis?
As a financial analyst and writer, I’ve taken a deep dive into Nicholas Jembelis’ work history. He’s been in the trenches as a stockbroker and financial advisor. For those curious about his professional background, his FINRA CRD number 4028696 paints a pretty straightforward picture, save for a notable customer complaint.
Back in 2021, an investor brought a dispute against him that got resolved through FINRA arbitration. Jembelis was said to have advised the client to pour money into a private placement offering, Energy 11 LP, which didn’t pan out well for the investor. The customer ended up with a settlement of $22,500.
What’s the Deal with Energy 11 LP?
If you’re asking, “What’s a private placement?” you’re not alone. They’re investment offers that skip SEC registration, have fewer rules, and can come with more risk. Energy 11 LP, in particular, was set up to cash in on oil wells in North Dakota. But in 2020, dividends to investors were halted, causing people to second-guess their decisions.
By 2021, Energy 11 LP’s value took a nosedive to $7.23 a unit, less than half of its initial price tag. Adding insult to injury, by 2022, there was about $45 million in payouts that hadn’t been made. The firm that Jembelis is under, David Lerner Associates, has had its fair share of scrutiny for dealing in similar investment products before, which doesn’t exactly inspire confidence.
What Can Investors Do?
It’s heartbreaking when your investment falls apart, especially if it’s due to advice that didn’t fit your situation. I’m here to tell you that if you’ve found yourself in a rough patch because of dealings with Nicholas Jembelis, there could be a way to get back what you lost through FINRA arbitration.
Investments like Energy 11 LP, while enticing with their potential rewards, are often tied down with less flexibility, less oversight, and more risk. If you’re thinking of getting involved with investments of this nature, or if you’re seeking to recover losses, it’s crucial to do your homework or get sound legal advice.
Although most claims are on a “no win, no fee” basis, it’s wise to talk things through with a lawyer before diving in. In this complicated investment landscape, knowing your rights and watching your back are must-dos.
As we navigate a world where investing gets ever more complex, the importance of transparency, responsibility, and stronger regulation can’t be overstated. Whether you’re seasoned in investing or just starting, always remember to dot your i’s and cross your t’s in every decision you make.
Remember to stay in the loop, and stay savvy.
As Warren Buffett once said, “Risk comes from not knowing what you’re doing.” This couldn’t be truer, especially when considering the daunting statistics revealing that as many as half of financial advisors have at least one regulatory or legal event on their records. So, before you trust someone with your finances, check their credentials, like their FINRA records. It’s your right, and it’s your money on the line.
