Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » First Allied Securities Settles FINRA Arbitration Claim Involving Alternative Investments

Guiliano Law Group

Kyle Robert Franklin of Roseville, California, 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 $15,000.00 in damages based upon allegations that Franklin made unsuitable recommendations, breached his fiduciary duties, breached a contract, was negligent, and failed to supervise certain registered representatives in connection with the recommendation and sale of REITs and variable annuities during the time that Franklin was associated with First Allied Securities Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02878 (April 16, 2021).

This is not the first time that Franklin has been referenced in a customer initiated investment related dispute concerning Franklin’s conduct in the securities industry. FINRA Public Disclosure shows that Franklin is also referenced in a FINRA securities arbitration claim that was settled for $25,000.00 in damages based upon allegations that Franklin recommended a reallocation of the customer’s annuity subaccounts which adversely affected the income guarantees on the customer’s annuity. FINRA Arbitration No. 18-02734 (October 4, 2018).

Franklin was associated with First Allied Securities Inc. in Cameron Park, CA, from October of 2013 to February of 2017, and was associated with Hilltop Securities Inc. in Roseville, CA, from February of 2017 to August of 2019.