IMPORTANT NOTICE TO CUSTOMERS OF BROKER RUSS CONRAD WHO SUFFERED INVESTMENT LOSSES

If You Suffered Losses With Financial Advisor Russ Conrad Please Contact the Law Firm of KlaymanToskes

PALM BEACH, FL, UNITED STATES, June 6, 2025 /EINPresswire.com/ -- National investment loss and securities attorneys KlaymanToskes issues an important notice to customers of former financial advisor Russ Conrad a/k/a Gilbert Russell Conrad, after his recommendations of unsuitable alternative investments caused a group of investors to suffer $750,000 in damages. The law firm urges all customers of Russ Conrad who suffered investment losses at Summit Brokerage Services or J.P. Turner & Company to contact the firm immediately at 888-997-9956.

KlaymanToskes reports the firm has filed a FINRA arbitration claim (Case No. 25-00696) against Summit Brokerage Services and J.P. Turner & Company on behalf of a group of investors who are seeking to recover damages of $750,000, in connection with being recommended to invest in unsuitable, high-risk alternative investments by their financial advisor, Russ Conrad (CRD# 2746778).

According to the claim filed by KlaymanToskes, financial advisor Russ Conrad recommended that the customers invest in alternative investments that included:
- Hospitality Investors Trust,
- Bluerock GrowthFund,
- Bluerock SOIF III,
- Franklin BSP Realty Trust common stock, and
- Franklin BSP Capital Corp.

These alternative investments, which were illiquid and speculative in nature, were allegedly misrepresented to the investors as low-risk, income-generating investments with only a short lock-up period of two to four years. The investors, who had limited investment experience, relied on Conrad’s advice and were not informed of the true risks and illiquidity associated with these private placements.

KlaymanToskes’ investigation found that Conrad and the brokerage firms failed to act in the clients’ best interest in violation of Regulation Best Interest (Reg BI), and that they breached their fiduciary duties by recommending overconcentrated, illiquid, and inappropriate investments. The claim also alleges that Conrad falsified financial information to qualify the clients for purchases that they would not have otherwise been eligible for.

Russ Conrad, also known as Gilbert Russell Conrad, has been the subject of six customer complaints reported on his FINRA BrokerCheck profile, each involving allegations of misrepresenting and recommending unsuitable, high-risk, illiquid investments to investors. Throughout his career, he has worked at several brokerage firms, including J.P. Turner & Company and Summit Brokerage Services, both now part of Cetera Financial Group, as well as Arkadios Capital and Realta Equities, Inc.

Customers of formerly registered broker Russ Conrad who suffered investment losses are encouraged to contact attorney Steven D. Toskes, Esq. at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Contact

Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com