Tamber Proctor Allegedly Sold Unsuitable FS Energy Investments

Tamber Proctor (CRD# 4316378[1]), an investment adviser registered with Proctor Investments, recommended unsuitable securities, according to a pending investor dispute. MDF Law is investigating the Waynesboro, Mississippi-based financial professional for similar conduct. If you have concerns about your accounts, call us for a free consultation with an attorney.

The following post contains additional details about the allegations involving Mr. Proctor. The information below is based on a November 26, 2024 review of his Financial Industry Regulatory Authority BrokerCheck report. It also includes information found in his Investment Adviser Public Disclosure, a Securities and Exchange Commission record. 

Pending Dispute Seeks Damages Exceeding $300,000

On September 16, 2024, a party of investors filed a dispute alleging that Mr. Proctor recommended unsuitable investments. Among others, the investments at issue include real estate and mutual fund products. The dispute, which is still pending, seeks alleged damages of $324,000.

Past Disputes Concerned FS Energy, Northstar Healthcare

The above-described investor dispute is not the only one in Mr. Proctor’s record. Between 2017 and 2020, two other parties of investors filed claims involving him. These claims included allegations that he made unauthorized trades, recommended unsuitable investments in FS Energy & Power and Northstar Healthcare, failed to disclose risks, breached contract, and breached his fiduciary duty. His former member firm settled the disputes for more than $19,000 in total.

Are Non-Traded REITs Risky Investments?

Non-traded real estate investment trusts (REITs) like Northstar Healthcare can be risky investments. Because they are not traded on a stock exchange, it can be challenging for investors to find information about them, and they are often illiquid. Early redemptions of non-traded REITs can result in costly fees; at the same time, investors are not guaranteed to receive distributions from these products. To learn more about non-traded REITs, read FINRA’s 2011 investor alert[2].

FINRA: Broker Based in Waynesboro, Pennsylvania

Mr. Proctor launched his career as a broker in 2001, when he joined Edward Jones’ branch office in Waynesboro, Mississippi. He left Edward Jones in 2011 for LPL Financial, which he left in 2017 to join Securities America. He registered with his current member firm, Proctor Investments, in 2021, and today works at its office in Waynesboro. Boasting 23 years of experience as an investment adviser, he has completed four industry exams, including the Series 66 and the Series 63. 

REIT Complaints? Call MDF Law Today

Do you have complaints about investments recommended by Tamber Proctor? You may have grounds to lodge an arbitration case to recover investment losses. Call MDF Law for a free consultation, especially if any of the following apply:

• You lost money investing in FS Energy & Power Fund, Northstar Healthcare, or other illiquid private investments;
• Your broker or adviser did not fully disclose the risks associated with your investments. These may include costly fees, indefinite illiquidity periods, or the potential for total principal loss;
• You lost more money than you could afford to lose;
• Your portfolio is not diversified.

MDF Law provides free consultations to investors nationwide. Our investment fraud attorneys[3] possess decades of experience, having recovered tens of millions of dollars for the victims of broker fraud. Call 800-767-8040 to discuss your case with our team today.