Jeffrey Guy Labelle (also known as Jeff Labelle) of Sarasota Florida a stockbroker formerly registered with First Allied Securities is referenced in a customer initiated investment related FINRA securities arbitration claim in which the customer requested $150,000.00 in damages founded on accusations that the customer’s First Allied Securities account had been negligently supervised and that there was a breach of contract resulting in damages to the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03686 (Nov. 25, 2020). The claim also alleges unsuitable recommendations and breach of fiduciary duty by the stockbroker.

FINRA Public Disclosure confirms that Labelle has been referenced in 11 additional customer initiated investment related disputes concerning allegations of his misconduct while employed by securities broker dealers including First Allied Securities and LPL Financial LLC. On April 17, 2020, a customer filed an investment related FINRA securities arbitration claim involving Labelle’s conduct where the customer sought $300,000.00 in damages supported by accusations including the stockbroker’s negligence and breach of contract regarding direct investments. FINRA Arbitration No. 20-01236. The claim alleges a violation of FINRA rules and the violation of a fiduciary duty by Labelle concerning direct participation programs or limited partnership interests.

Labelle is also the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $12,500.00 in damages based upon allegations that the customer’s account lacked supervision from Labelle and that negligence resulted in the customer’s losses at First Allied Securities. FINRA Arbitration No. 19-03528 (May 21, 2020). The claim alleges that the customer had been advised by Labelle to purchase unsuitable real estate securities. According to the claim, there was a breach of fiduciary duty and breach of contract in regard to REIT transactions.

Labelle is referenced in a different customer initiated investment related complaint on July 1, 2020 in which the customer requested $100,000.01 in damages founded on accusations that there was inadequate due diligence undertaken by Labelle prior to him recommending that the customer invest in real estate securities through First Allied Securities. According to the claim, there had been a breach of fiduciary duty by the stockbroker. The claim also alleges that unsuitable investment recommendations and fraudulent transactions resulted in damages to the customer.

On August 28, 2020, another customer filed an investment related FINRA securities arbitration claim concerning Labelle’s activities where the customer sought $175,000.00 in damages supported by allegations of the stockbroker breaching a fiduciary duty and recommending that the customer invest in real estate securities when this was not suitable for them. FINRA Arbitration No. 20-02783. The claim alleges negligence by Labelle at First Allied Securities.

Labelle is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $350,000.00 in damages based upon accusations that a contract between the customer and the securities broker dealer had been breached during the time that Labelle was associated with First Allied Securities. FINRA Arbitration No. 20-02738 (Sept. 3, 2020). According to the claim, the customer had been recommended unsuitable real estate securities and direct investments. Misrepresentations were purportedly made concerning alternative investments. The claim also alleges that between July 24, 2018 and December 23, 2019, when Labelle was associated with LPL Financial, the customer’s assets had been overconcentrated in business development companies and real estate securities.

Labelle was registered with First Allied Securities between August 24, 2012 and July 27, 2018. Between July 23, 2018 and December 26, 2019, he was associated with LPL Financial.

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