Contact the Law Firm of KlaymanToskes for a Free and Confidential Consultation to Discuss Potential Recovery of Your Investment Losses
NEW YORK, NY, UNITED STATES, February 3, 2026 /EINPresswire.com/ — National investment loss and securities law firm KlaymanToskes issues an important notice to customers of financial advisor Alex King (also known as Alex Ng), of PHX Financial, who purchased Advanced Technology Select Funds private placement investments. The law firm urges all customers of financial advisor Alex Ng who suffered investment losses to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the law firm has filed a FINRA arbitration claim (Case No. 25-01852) against PHX Financial on behalf of customers seeking to recover $500,000 in damages. According to the claim, broker Alex King and PHX Financial allegedly recommended that customers concentrate their retirement savings into high-risk, illiquid pre-IPO alternative investments known as the Advanced Technology Select Funds, while misrepresenting the risks, liquidity, and suitability of the investments for the customers’ retirement objectives.
According to the claim filed by KlaymanToskes, the claim alleges that $400,000 was invested in the Advanced Technology Select Funds, with approximately 12% of the invested principal charged as commissions and fees, which were not adequately disclosed. The customers allege that PHX Financial and King misrepresented how the investments worked, the length of the illiquidity period, and the risks associated with concentrating retirement assets in speculative pre-IPO offerings.
KlaymanToskes’ investigation found that while under PHX Financial’s supervision, King falsified account documentation, mischaracterizing the customers’ risk tolerance and investment objectives as “aggressive” and “speculative,” and overconcentrated their portfolio in illiquid technology-focused alternative investments. Additionally, the customers’ previously diversified portfolio of blue-chip stocks, ETFs, gold, and other liquid investments was reallocated into private placements that carried substantial commissions and fees, while the investments themselves remain largely illiquid.
Customers of Alex Ng and/or any other financial advisor who suffered losses in alternative investments or pre-IPO offerings are encouraged to contact attorney Lawrence L. Klayman at (888) 997-9956 or by email at investigations@klaymantoskes.com for a free and confidential consultation to discuss potential recovery options.
About KlaymanToskes
KlaymanToskes 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 has recovered over $600 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, Nebraska, New York, and Puerto Rico.
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Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, PLLC
+1 888-997-9956
investigations@klaymantoskes.com
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