Report: #1481025

Complaint Review: Najarian Family Office - Chicago Illinois

  • Submitted:
  • Updated:
  • Reported By: Manoj — Minneapolis Minnesota United States
  • Najarian Family Office 55 E. Monroe Street, Suite 3800 Chicago, Illinois United States

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Jon and/or Pete Najarian are on CNBC nearly every day and are authors of books on how to trade options, so naturally, I thought, geez, these guys must know how to do well in the stock market, so I decided to have the Najarian Family Office manage my investments. 

Bad decision.  Trades made by the Najarian Family Office caused an overall loss of 6.18% in the value of my savings, including an 11.30% loss in my retirement account, in less than 14 months. 

Incredibly, their abysmal performance was during a period with the Dow rose by 6.22%, the S&P improved by 7.60%, and the Nasdaq soared by 8.34%.  When I asked for an explanation, they said, "things look great". 

Months later, they said my losses were because they had me in an "aggressive" strategy, that we had never discussed, even after I had told them when I opened my account that I was unemployed and relying on my investments to pay off my mortgage. 

They made multiple options trades every day, without explaining why those trades were made, and in the end, they claimed the losses were my fault!  They cancelled my account and then offered me just $10,000 and a refund of advisor fees in exchange for signing a release so I wouldn't file a complaint with regulators. 

I refused their offer and how other investors don’t suffer similar consequences. 

I have spoken to an attorney who said they have numerous complaints about the Najarian Family Office

This report was posted on Ripoff Report on 06/26/2019 11:16 AM and is a permanent record located here: https://www.ripoffreport.com/report/najarian-family-office/chicago-illinois-told-i-make-1481025. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Author of original report

As the author of this report, I have requested that it be deleted.

AUTHOR: Mike - (United States)

POSTED: Saturday, June 29, 2019

As the author of this report, I have requested that it be deleted.  The Najarian Family Office and I are trying to work out an amicable agreement.

  I did not know that I cannot delete my own report and I do not want to be sued.

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