Mark William Chamberlain of Chesterton Indiana a stockbroker currently employed by First Allied Securities Inc. is the subject of a customer initiated investment related complaint in which the customer requested $94,000.00 in damages founded on allegations that the customer was not provided information about the tax liability pertaining to the activation of a rider that had been purchased along with the customer’s variable annuity.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Chamberlain has been identified in six additional customer initiated investment related disputes containing accusations of his wrongful activities while employed with First Allied Securities and FFP Securities, Inc. Particularly, on February 18, 2004, a customer filed an investment related complaint regarding Chamberlain’s conduct where the customer sought $8,635.00 in damages supported by allegations that the customer was placed in stock investments without the customer’s permission.
On August 20, 2004, another customer filed an investment related complaint involving Chamberlain’s activities in which the customer requested unspecified damages based upon accusations of unauthorized trading in reference to the customer’s stock portfolio and variable annuity accounts. Then, on April 22, 2008, a customer filed an investment related complaint concerning Chamberlain’s conduct where the customer sought $99,288.00 in damages founded on allegations that Chamberlain failed to inform the customer about the fees pertaining to a variable annuity purchased by the customer.
On August 12, 2009, another customer initiated investment related complaint regarding Chamberlain’s conduct was settled for $18,010.19 in damages supported by accusations that mutual funds transactions were executed in the customer’s managed wrap account that were not suitable for the customer, where Chamberlain apparently placed the customer at a risk level that failed to conform to the customer’s suitability profile.
Moreover, on October 30, 2012, a customer initiated investment related complaint involving Chamberlain’s activities was resolved for $13,000.00 in damages based upon allegations that misrepresentations had been made to the customer concerning direct participation and limited partnership interest transactions; fiduciary duties owed to the customer had been breached; unauthorized transactions were effected in the customer’s investment portfolio; the firm failed to appropriately supervised Chamberlain’s activities; and the customer’s funds had been converted.
Further, on May 8, 2015, a customer filed an investment related complaint concerning Chamberlain’s activities in which the customer requested $29,700.00 in damages founded on accusations that transactions were executed in the customer’s account that were not suitable for the customer; the customer was apparently placed in speculative direct investment products that were inappropriate for the customer’s financial circumstances.
Chamberlain has been registered with First Allied Securities, Inc. since May 30, 2008.
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