Non-traded REITs pool investor capital to purchase portfolios of investments in real estate properties. Unlike REITs which trade on a national securities exchange, non-traded REITS (as their name implies) are not publicly traded and are, therefore, difficult to value and carry significant illiquidity risk. These types of REITs also carry tax consequences and early redemption fees, of which an inexperienced investor may be unaware.
Non-traded REITs typically come with high fees and commissions, which make them attractive products for brokers, even though a non-traded REIT would be a suitable investment for only a small percentage of a broker’s clientele.
In addition to the actions brought against Stephen Joe Williams described above, NEXT Financial Group has been censured and/or fined by regulators sixteen times since 2008 for improper business practices and has been the subject of four customer disputes since 2010.
If you or someone you know was the victim of an investment recommended by Stephen Joe Williams, NEXT Financial Group, or otherwise lost money on a non-traded REIT investment, please call The Frankowski Firm at 888.741.7503 or fill out this contact form.