Close Menu
Free Consultation: 888-976-6111

Scott Oliphant: $100K REIT Complaint Against Integrity Wealth Advisor

Columbus, Indiana financial advisor Scott Oliphant (CRD# 4551455) allegedly recommended an unsuitable real estate investment trust (REIT), according to a recent investor complaint. Records provided by the Financial Industry Regulatory Authority indicate that the Cetera Advisors representative is the owner and president of Integrity Wealth Management.

Mr. Oliphant’s BrokerCheck report discloses one investor complaint. Filed in January 2023, it alleges that as a representative of CFD Investments, he recommended an unsuitable REIT that over-concentrated the customer’s assets. The complaint alleges further that he breached his fiduciary duty, breached contract, acted negligent, negligently misrepresented or omitted material facts, committed common law fraud, and was negligent in his supervisory duties. The pending complaint alleges damages of $100,000.

In a statement included with the pending complaint’s disclosure, Mr. Oliphant writes that the complaint is based on alleged losses for an investment “that, though illiquid, has not lost value, and instead has produced income for the client of approximately 20% of the value of the underlying investment.” He states further that the investment “was a portion of an otherwise well managed and liquid portfolio, and reflects the only illiquid portion of the portfolio at the time of the purchase.” In conclusion, he writes: “The asset was sold as an income producing asset, and the client did not have a liquidity need with respect to that portion of the portfolio.”

According to the Financial Industry Regulatory Authority, Scott Oliphant holds 20 years of securities industry experience. Based in Columbus, Indiana, he has been a broker and an investment advisor with Cetera Advisors since 2019. He is the founder, owner, and president of Integrity Wealth Management. His past registrations include CFD Investments (Columbus, Indiana; 2005-2019), Raymond James Financial Services (St. Petersburg, Florida; 2005), and Edward Jones (St. Louis, Missouri; 2002-2004). His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Alabama, Indiana, Kentucky, Maine, Michigan, Missouri, Montana, North Dakota, Ohio, Pennsylvania, Tennessee, and Wisconsin. (Information current as of March 9, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • CoinFund Liquid Opportunities LP Losses: Investors May Have Options

    In July 2023, US-based cryptocurrency investment firm and registered investment adviser CoinFund announced that it had closed its $158 million...

    Read More
  • Elba Nogueras: FINRA Suspends Ex-First Southern Advisor

    Former Guaynabo, Puerto Rico financial advisor Elba Nogueras (CRD# 4459340) has been involved involved in multiple investor complaints involving Puerto...

    Read More
  • Daniel Snover: PMV Advisor Faces $383K Complaint

    Addison, Texas financial advisor Daniel Snover (CRD# 5161189) recently received an investor complaint alleging his conduct resulted in losses exceeding...

    Read More
  • Jennifer Basey: $75K Complaint Against Stifel Nicolaus Advisor

    A recent investor complaint against Fort Myers financial advisor Jennifer Basey (CRD# 4730054) alleges that her advice resulted in losses....

    Read More
  • Previous
  • Next