arbitration notice

Andrew W. Topka of Mount Pleasant, South Carolina, a stockbroker formerly registered with Kalos Capital Inc., is identified in a customer initiated investment related FINRA securities arbitration claim where the customer sought $297,500.00 in damages founded on accusations of unsuitable trading and breach of fiduciary duty concerning business development companies, direct investments, and real estate securities while Topka was registered with Kalos Capital. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00280 (February 8, 2022). According to the claim, Kalos Capital failed to supervise. The claim alleges that important information was omitted by the stockbroker about the alternative investments sold to the customer.

Topka has been identified in five more customer initiated investment related disputes regarding allegations of his activities while he was registered with Berthel Fisher Company Financial Services and Kalos Capital. FINRA Public Disclosure shows that a customer initiated investment related complaint regarding Topka’s conduct was settled for $52,000.00 in damages supported by accusations of poor investment performance because of Topka and Berthel Fisher Company Financial Services.

Topka is also the subject of a customer initiated investment related written complaint in which the customer requested compensatory damages based upon allegations of unsuitable and risky investments during the time that Topka was employed by Berthel Fisher Company Financial Services. The complaint alleges that the customer had been placed into real estate securities, oil and gas investments, and direct investments, including direct participation programs and limited partnership interests.

Another customer initiated investment related complaint involving Topka’s activities was resolved for $14,500.00 in damages on January 26, 2021, founded on accusations of the customer being sold GPB on the basis of it being represented as solid and secure and capable of providing income to the customer on a steady basis. According to the claim, the investment is nearly worthless.

Topka is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $45,128.00 in damages supported by allegations of unsuitable trading by Topka regarding direct investments, including direct participation program interests and limited partnership interests when Topka was associated with Kalos Capital Inc. FINRA Arbitration No. 20-01307. According to the claim, Topka gave the customer unsuitable advice about investing in GPB Capital Holdings.

On January 18, 2021, another customer initiated investment related FINRA securities arbitration claim concerning Topka’s conduct was resolved for $152,923.00 in damages based upon accusations that Topka made unsuitable sales of alternative investments and direct investments at Kalos Capital. FINRA Arbitration No. 20-03204. The claim alleges failure to supervise by Kalos Capital concerning the alternative investments. The claim also contains allegations of breach of fiduciary duty resulting in damages.

Topka was registered with Kalos Capital between November 12, 2014, and January 11, 2018.