Jeffrey Guy LaBelle (also known as Jeff LaBelle) of Sarasota Florida a stockbroker formerly registered with LPL Financial LLC and First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer requested $350,000.00 in damages based upon allegations that LaBelle breached a contract and breached a fiduciary duty as it pertained to real estate investment trusts (REITs) effected in the customer’s account. FINRA Arbitration No. 21-01977 (August 9, 2021). According to the claim, damages stemmed from negligence and unsuitable transactions by LaBelle while registered with First Allied Securities and LPL Financial.
FINRA Public Disclosure shows that LaBelle has been identified in sixteen additional customer initiated investment related disputes containing accusations of his wrongdoing during the time that he was registered with securities broker dealers, including Woodbury Financial Services, Next Financial Group Inc., SII Investments LLC, First Allied Securities, LPL Financial.
On May 24, 2021, a customer filed an investment related FINRA securities arbitration claim concerning LaBelle’s activities. They sought compensatory damages supported by allegations that their account had been overconcentrated in alternative investments because of LaBelle’s actions at First Allied Securities. FINRA Arbitration No. 21-00574. According to the claim, LaBelle provided unsuitable investment recommendations regarding private placements and real estate security products.
LaBelle is referenced in a different customer initiated investment related FINRA securities arbitration claim where the customer requested compensatory damages founded upon accusations of LaBelle’s unsuitable real estate security recommendations while registered with First Allied Securities. FINRA Arbitration No. 21-01385 (June 11, 2021).
Another customer filed an investment related FINRA securities arbitration claim concerning LaBelle’s conduct in which they sought compensatory damages based on allegations that First Allied Securities failed to supervise LaBelle’s activities resulting in bad real estate investment trust transactions. FINRA Arbitration No. 21-01666 (July 2, 2021). The claim alleges that a contract and fiduciary duty were breached by the stockbroker. According to the claim, LaBelle made unsuitable transactions and misrepresented information relating to them.
LaBelle is also the subject of a customer initiated investment related written complaint on July 9, 2021, where the customer requested $100,000.01 in damages supported by accusations of unsuitable variable annuity transactions by LaBelle during the period that he was registered with First Allied Securities. The complaint alleges that unsuitable investment recommendations were made by the financial advisor. Allegations also include failure to perform due diligence and failure to supervise by First Allied Securities.
On August 6, 2021, a different customer filed an investment related FINRA securities arbitration claim involving LaBelle’s activities in which they sought compensatory damages founded on accusations of negligence and breach of contract by LaBelle as it pertained to the real estate investment trusts purchased by the First Allied Securities customer. FINRA Arbitration No. 21-01948. The claim alleges that LaBelle made unsuitable recommendations resulting in damages.
LaBelle was registered with First Allied Securities between August 24, 2012, and July 27, 2018. He was registered with LPL Financial between July 23, 2018, and December 26, 2019.