November 21, 2007
If real estate brokers are allowed to participate in the sales if TICs, it should only be done in conjunction with
with a referral to a NASD Licensed Representative.
Real Estate Sales People operate in an environment with very limited supervision, they lack the training to determine suitability, they are held to a much lower standard of education, licensing, and duty of care.
If allowed to sell TICS without the oversight of a licensed securities representative, the public will find itself
left unprotected and facing another financial debacle.
Most of TIC money/equity is part of retirement savings.
These savings cannot be replaced if lost. Consumers and investors deserve, need and require these safeguards and protections.
We cannot do this to retiring Americans without abrogating the very important trust and responsibility with which we are charged.