Market Overview

NOTICE TO ALL NEXT FINANCIAL GROUP, INC. CLIENTS: Klayman & Toskes, P.A. Launches Investigation for Failure to Supervise Excessive Trading and Unsuitable Trade Recommendations Resulting in Damages in Excess of $10 Million


The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T"),,
launches an investigation against Next Financial Group, Inc. ("NEXT") (CRD
46214) based on its failure
to supervise
for excessive
, short-short
term mutual fund trading
, securities
, and elder
resulting in damages in excess of $10 million in a customer's
accounts. The investigation centers around a FINRA arbitration claim K&T
is preparing to file against NEXT for failure to supervise its broker in
Corpus Christi, Texas. NEXT was fined
$750,000 in December of 2017 for failing to adequately supervise a
broker during the same timeframe alleged (2014 and 2015), allowing
excessive trading to occur in customer accounts. This is the most recent
of three regulatory settlements executed by NEXT in the last decade
involving excessive trading.

K&T's preliminary investigation reveals that a staggering $90 million
was traded in the customer's accounts between 2012 and 2015. The conduct
also includes short-term trades in mutual funds, trades that FINRA deems
generally improper on their face. Finally, the customer's accounts were
concentrated with more than 92% invested in Puerto Rico municipal bonds
based on the broker's misrepresentations
of the credit quality of the bonds and creating urgency to prematurely
swap out their conservative U.S. based portfolio.

The sole purpose of this release is to investigate potential financial
misconduct by NEXT and/or its brokers. Current and former customers who
have information about the sales practices of NEXT are encouraged to
contact Lawrence L. Klayman, Esq. of Klayman & Toskes, P.A. at (888)
997-9956, or visit our website at

About Klayman & Toskes, P.A.

K&T 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 represents high
net-worth, ultra-high-net-worth, and institutional investors, such as
non-profit organizations, unions, public and multi-employer pension
funds. K&T has office locations in California, Florida, New York and
Puerto Rico.


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