Who is Benjamin Belanger?
Investors, take note: I’m talking about stockbroker Benjamin William Belanger, known to friends and colleagues as Ben Belanger, who’s raising eyebrows in the finance world. He’s found himself in hot water with FINRA arbitration, opening the door to lawsuits against him. Belanger has a history with Ameriprise Financial Services, First Allied Securities, and is now with Kestra Investment Services, part of Kestra Private Wealth Services, and working out of Peoria. You can track his professional background with his [CRD 5293459 registration](https://brokercheck.finra.org/individual/summary/5293459).
Investor Issues with Belanger
Let me be plain: Belanger has made some moves that have cost his clients dearly. The heftiest price he’s paid so far was a whopping $75,000 because he suggested a subpar real estate investment trust (REIT) to a First Allied Securities customer. This kind of advice can really hit investors hard in the wallet.
Another troubling charge sits unresolved: a new arbitration claim is on his heels, with a First Allied client demanding $100,000 in damages for Belanger’s repeated dodgy REIT recommendations.
For those less acquainted with investing, REITs are a shade different from traditional stocks, bonds, or cash. They are considered alternative investments and can include things like hedge funds, private capital, and commodities. They’re typically riskier, come with higher fees, less cash-out ease, and under lighter regulations – not the best bet for those new to the investing game.
The Cost of Missteps
Belanger’s accusers list several financial wrongdoings, including poor advice on REIT investments like ARC Healthcare Trust II, now renamed Healthcare Trust Inc., and American Realty Capital Hospitality Trust, renamed Hospitality Investors Trust Inc. These missteps have led to a trail of financial losses for investors.
As a financial analyst, I know how vital the role of the Financial Industry Regulatory Authority (FINRA) is. They keep a close eye on brokers and firms, ensuring customer complaints or disputes are out in the open, and enforce proper reporting of any legal actions. They also require the disclosure of any personal financial messes like debts and bankruptcies.
If you’ve been financially hurt by Ben Belanger’s investment tips, you’ve got a window to pursue justice. You can start legal action through FINRA arbitration without any upfront legal fees, only paying if you win your case. This protection is for everyone nationwide, offering a shield against the deceitful practices of financial advisors and brokers.
If Ben Belanger’s investment decisions have put you at a disadvantage, I advise you reach out to a skilled securities attorney to chat about your situation at no cost. Don’t feel you’re fighting alone – there are systems in place to confront those who exploit their financial power.
FINRA protects investors, so it’s crucial to voice any concerns about how your finances are handled. As the famous investor Warren Buffett once said, “Risk comes from not knowing what you’re doing.” The security of your financial future relies on your willingness to act on such issues. Be smart, be informed, and stay safe.
