NEXT Financial Fined by State of New Hampshire
On December 31, 2019, NEXT Financial was fined by the State of New Hampshire. Here are the allegations:
- An advisor at NEXT Financial concentrated his clients in high commission private placements, including non-traded REITs.
- The investments at issue were illiquid and had no secondary market. They included mostly non-traded REITs.
- The activity occurred between 2009 and 2016.
- Many of the sales were made to investors that were over the age of 80.