Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Investors File Arbitration Claim Against First Allied Securities For Unsuitable Recommendations

Guiliano Law Group

Jeffrey Brian Forehand (also known as Jeff Forehand) of Myrtle Beach, SC, a stockbroker registered with First Allied Securities Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $14,600.00 in damages based upon allegations that Forehand made unsuitable recommendations, breached a contract, was negligent, and failed to supervise certain registered representatives in connection with the sale of real estate securities during the time that Forehand was associated with First Allied Securities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-00093 (May 27, 2021).

FINRA Public Disclosure shows that Forehand has been referenced in four other customer initiated investment related disputes concerning Forehand’s conduct while associated with securities broker dealers. On October 7, 2001, a customer filed an investment related complaint involving Forehand’s conduct in which the customer requested $8,940.00 in damages based upon allegations that Forehand engaged in unauthorized trading in variable annuities.

Forehand was also referenced in a complaint that was settled on July 18, 2003, for $20,500.00 in damages based upon allegations that Forehand made unsuitable recommendations of variable annuity subaccounts.

Forehand was associated with First Allied Advisory Services Inc. in San Diego, CA, as an investment advisor representative from January of 2007 to November of 2020, and associated with First Allied Securities Inc. in Myrtle Beach, SC, as a stockbroker from May of 2008 to September of 2022.

Forehand has been associated with Cetera Investment Advisers LLC in Myrtle Beach, SC, as a stockbroker since September 8, 2022, and associated with Cetera Advisors LLC in Myrtle Beach, SC, as an investment advisor representative since November 12, 2020.