Andrew W. Topka of Mount Pleasant South Carolina a stockbroker formerly registered with Kalos Capital Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $152,923.00 in damages based on accusations that the customer’s account had been overconcentrated in alternative investments by Topka when he was employed by Kalos Capital Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03204 (January 18, 2021). According to the claim, Topka effected unsuitable alternative investment transactions and breached a fiduciary duty to the customer. Kalos Capital is accused of the failure to supervise Topka’s activities.
Topka has been identified in four additional customer initiated investment related disputes containing allegations of his wrongdoing while employed by Berthel Fisher Company Financial Services Inc. and Kalos Capital. FINRA Public Disclosure shows that a customer initiated investment related complaint regarding Topka’s conduct was resolved for $52,000.00 in damages founded upon accusations of unsuitable real estate securities purchased through Topka at Berthel Fisher Company Financial Services.
A different customer filed an investment related complaint involving Topka’s activities in which they requested compensatory damages supported by allegations of unsuitable real estate security, oil and gas security, and direct investment sales by Topka when he was registered with Berthel Fisher Company Financial Services. The complaint alleges that the alternative investments failed to align with the customer’s tolerance for risk.
Topka is also referenced in a customer initiated investment related complaint that was settled for $14,500.00 in damages on January 26, 2021, based on accusations of the customer being placed into bad GPB investments. The complaint alleges that the customer was told that GPB was a secure and solid investment capable of providing a steady income.
On January 18, 2021, another customer initiated investment related FINRA securities arbitration claim concerning Topka’s conduct was resolved for $45,128.00 in damages founded upon allegations of the failure to undertake due diligence on GPB Capital Holdings prior to making investment recommendations to the customer. FINRA Arbitration No. 20-01307. According to the claim, Topka made bad recommendations to the customer when he was associated with Kalos Capital.
Topka was registered with Kalos Capital between November 12, 2014, and January 11, 2018.