Alan Duane Douglass (also known as Roof Douglass), of Clearwater, Florida, a stockbroker registered with Investacorp Inc., was the subject of a customer initiated investment related complaint filed on July 3, 2024, in which the customer requested $5,000.00 in damages based upon allegations that Douglass made misrepresentations of material fact and made the unsuitable investment recommendation of real estate securities during the time that Douglass was associated with Investacorp Inc. The securities broker dealer denied the complaint.
Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Douglass was referenced in six other customer initiated investment related disputes concerning Douglass’s conduct while associated with securities broker dealers, including Investacorp Inc. On February 4, 2022, a customer initiated investment related FINRA securities arbitration claim involving Douglass’s conduct was settled for $50,000.00 in damages based upon allegations that Douglass breached his fiduciary duties, made misrepresentations and omissions of material fact, was negligent, violated FINRA rules, and made unsuitable recommendations in real estate securities and other alternative investments when Douglass was associated with Investacorp Inc. FINRA Arbitration No. 21-00551.
On July 1, 2022, another FINRA securities arbitration claim involving Douglass’s conduct was settled for $55,000.00 in damages based upon allegations that Douglass made unsuitable recommendations in direct investments and real estate securities during the time that Douglass was associated with Securities America Inc. FINRA Arbitration No. 21-01876.
Douglass was also referenced in a FINRA securities arbitration claim that was settled for $40,000.00 in damages based upon allegations that Douglass overconcentrated accounts in real estate securities when Douglass was associated with Investacorp Inc. FINRA Arbitration No. 21-02431 (December 6, 2022).
On May 16, 2022, another customer filed an investment related complaint involving Douglass’s conduct in which the customer requested $5,000.00 or more in damages based upon allegations that Douglass recommended stocks and mutual funds which poorly performed during the time that Douglass was associated with Securities America Inc. This complaint was denied.
Douglass was also referenced in a complaint filed on May 26, 2022, in which the customer requested $5,000.00 or more in damages based upon allegations that Douglass made unsuitable recommendations in variable annuities. The securities broker dealer denied the complaint.
Douglass has been associated with Osaic Wealth Inc. in Clearwater, Florida, as a stockbroker since June 14, 2024. Previously, he was associated with Securities America Inc. in Clearwater, Florida, from July 17, 2020, to June 14, 2024, and Investacorp Inc. in Clearwater, Florida, from March 7, 1995, to July 17, 2020.
