The clients of Kirkland-based Breard Associates and Wealth Management are fearing the worst. For many, their life savings investments are at stake as state regulators and investigators examine reports of missing money and altered investment statements from broker Rhonda Breard.
Several local news channels have run stories of those who invested with Breard Associates who later found discrepancies in their brokerage accounts. According to The Seattle Times, ING Financial Partners has suspended Rhonda Breard's brokerage license. Breard is represented by Seattle-based attorney, Ronald Friedman, who told The Times his client, "is fully cooperating with the state and law enforcement in this matter, and intends to continue to cooperate."
ING Financial Partners suspended Rhonda Breard's brokerage licenses in an emergency action earlier this month after investors complained that their investments had disappeared and that their monthly account statements appeared to be altered. Breard, the manager and chief executive officer of Breard & Associates Wealth Management, was a licensed broker for the investment giant, authorized to sell securities under its name in nine states: Washington, Oregon, Nevada, New Mexico, Wyoming, Arizona, North Carolina, West Virginia and Michigan.
Her Kirkland office was closed and the company's Web site has been pulled down, Breard's personal Facebook page has been hidden and nobody picked up phone calls to her office or her Redmond home. Ronald Friedman, a former federal white-collar crime prosecutor now at the Seattle firm Lane Powell, is representing Breard. He said Thursday that his client "is fully cooperating with the state and law enforcement in this matter, and intends to continue to cooperate."