Nicholas Rowe—Unsuitable Investment Strategy for Clients : Reports
Nicholas Rowe’s Investment Strategy Allegedly Unsuitable for His Elderly Clients
Nicholas Rowe, age 55, and a resident of Hollis, New Hampshire, and formerly a Focus Capital investment adviser, allegedly engaged in an investment strategy involving leveraged and inverse exchange traded funds (ETFs), according to recent documents from the SEC.
The SEC further alleges that Rowe’s strategy, mostly for elderly clients, was allegedly unsuitable for their clients and made misrepresentations regarding the fees to be charged and thus was in violation of New Hampshire law prohibiting investment advisers from engaging in unethical business practices.
Nicholas Rowe, New Hampshire Investment Adviser, Barred for Life from Securities Industry
Rowe and Focus Capital were ordered to cease and desist from violating New Hampshire regulations, and were ordered to pay $20,000 (a $5,000 fine plus the costs of the investigation) and restitution, according to SEC documents.
In addition, the SEC notes, Rowe has been barred from the securities industry for life by the SEC. New Hampshire securities regulators first took action against Rowe three years ago, seeking $2.4 million in restitution on behalf of elderly clients who trusted him with their retirement money.
It is noteworthy that Rowe once was an invited speaker at retirement planning workshops and a guest lecturer in finance classes at Southern New Hampshire University, and had worked with many of the investors since the early part of the last decade, according to reports from New Hampshire.
The Peiffer Rosca Wolf Investment Recovery Attorneys Often Represent Investors
The Peiffer Rosca Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment misconduct may contact the investment recovery attorneys at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.