Tag Archives: First Allied Securities Inc.

Investors Bring FINRA Arbitration Against First Allied Securities For Fraud

May 31, 2021  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Securities Arbitration Claims, Securities Fraud, Selling Away and Outside Activities   |   Comments Off on Investors Bring FINRA Arbitration Against First Allied Securities For Fraud

Masood Husain Azad (also known as Mike Azad) of League City Texas a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested compensatory damages based upon allegations of negligence and breach of contract relating to investments in Direct […]

Read More »

Investors File Securities Arbitration Claim Against First Allied Securities

March 31, 2021  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Business Development Companies, Failure To Supervise, FINRA Securities Arbitration, Investment and Regulatory News, Unsuitable Investment Recommendations   |   Comments Off on Investors File Securities Arbitration Claim Against First Allied Securities

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 […]

Read More »

Investors File Arbitration Claim Against First Allied Securities

March 08, 2021  |   Posted by :   |   Alternative Investments, Excessive Trading, Investment and Regulatory News   |   Comments Off on Investors File Arbitration Claim Against First Allied Securities

Kyle Robert Franklin of Cameron Park California 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 compensatory damages based upon accusations of negligence and breach of contract as it pertained to real estate investment trusts and variable annuities purchased […]

Read More »

Investors File Arbitration Claim Against First Allied Securities For Misappropriation

March 08, 2021  |   Posted by :   |   Breach of Fiduciary Duty, Elder Financial Abuse, FINRA Securities Arbitration, Forgery, Investment and Regulatory News, Misappropriation of Funds, Stockbroker Theft   |   Comments Off on Investors File Arbitration Claim Against First Allied Securities For Misappropriation

Shlomo Strugano (also known as Shlomy Strugano and as Solomon Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $750,000.00 in damages supported by accusations of elder abuse and misappropriation. Financial Industry Regulatory Authority (FINRA) […]

Read More »

Investors Bring FINRA Arbitration Claim Against First Allied Securities

November 30, 2020  |   Posted by :   |   FINRA Securities Arbitration, Investment and Regulatory News, Non-traded REITs, Securities Arbitration Claims, Securities Fraud   |   Comments Off on Investors Bring FINRA Arbitration Claim Against First Allied Securities

Ronald Reed McCook of Scottsdale Arizona a stockbroker currently registered with First Allied Securities Inc. and an investment adviser representative of Cetera investment Advisers LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested unspecified damages supported by allegations that the customer had been placed in real estate […]

Read More »

Investors Sue First Allied Securities For Negligence

June 08, 2020  |   Posted by :   |   Alternative Investments, Breach of Fiduciary Duty, Securities Arbitration Claims, Securities Fraud, Stockbroker Negligence   |   Comments Off on Investors Sue First Allied Securities For Negligence

Andrew Raymond Scheirer II (also known as Andy Haas) of Lake Mary Florida a stockbroker formerly registered with First Allied Securities Inc. and Kovack Securities Inc. is the subject of a customer initiated investment related arbitration claim which was settled for $49,000.00 in damages based upon allegations that a fiduciary duty that was owed to […]

Read More »

First Allied Securities Sued For Breach Of Fiduciary Duty

May 12, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, Non-traded REITs, Unsuitable Investment Recommendations   |   Comments Off on First Allied Securities Sued For Breach Of Fiduciary Duty

William Michael Robertson of Denver Colorado a stockbroker registered with First Allied Securities is the subject of a customer initiated investment related arbitration claim which was resolved for $8,000.00 in damages based upon accusations of (1) negligence (2) breach of a fiduciary duty (3) unsuitable real state security transactions and (4) First Allied Securities’ failure […]

Read More »

First Allied Securities Sued By Investors For Fraud

May 12, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations   |   Comments Off on First Allied Securities Sued By Investors For Fraud

Sean Aaron Brady of Saint Louis Missouri a stockbroker registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim which was resolved for $75,000.00 in damages based upon accusations of the customer being defrauded on direct participation program interests or limited partnership interests sold by Brady between 2012 […]

Read More »

Investors File Claim Against First Allied Securities For Negligence

April 23, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Failure To Supervise, Non-traded REITs, Securities Arbitration Claims, Securities Fraud, Stockbroker Negligence   |   Comments Off on Investors File Claim Against First Allied Securities For Negligence

Jeffrey Guy Labelle of Sarasota Florida a stockbroker employed by First Allied Securities Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought $250,000.00 in damages founded on accusations of (1) negligent supervision of the stockbroker (2) breach of a contract pertaining to the customer’s investments (3) violation of […]

Read More »

Investors Sue First Allied Securities For Deceptive Practices

April 08, 2020  |   Posted by :   |   Breach of Fiduciary Duty, Securities Arbitration Claims, Variable Annuites   |   Comments Off on Investors Sue First Allied Securities For Deceptive Practices

Larry Glenn Boggs of Birmingham Alabama a stockbroker formerly employed by First Allied Securities Inc. has been identified in a customer initiated investment related arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages founded on accusations of (1) the violation of Alabama Deceptive Trade Practices Act (2) breach of a contract pertaining […]

Read More »

First Allied Securities Sued For Misrepresentation

March 26, 2020  |   Posted by :   |   Securities Arbitration Claims, Securities Fraud, Unsuitable Investment Recommendations, Variable Annuites   |   Comments Off on First Allied Securities Sued For Misrepresentation

Jaime Michael Westenbarger of Grand Rapids Michigan a stockbroker formerly associated with First Allied Securities Inc. is the subject of a customer initiated investment related complaint on January 21, 2020 in which the customer requested $30,636.16 in damages based upon allegations of the stockbroker misrepresenting an annuity sold to the First Allied Securities customer. Westenbarger […]

Read More »

Investors File FINRA Arbtration Claims Against First Allied Over Alternative Investments

Douglas Keith Hyer (also known as Doug Hyer) of Great Neck New York a stockbroker currently associated with First Allied Securities Inc. and NEXT Financial Group Inc. has been referenced in a customer initiated investment related arbitration claim which has been settled for $15,000.00 in damages supported by allegations that (1) purchases of real estate […]

Read More »

FINRA Bars First Allied Stockbroker In Investigation

January 17, 2020  |   Posted by :   |   Forgery, Investment and Regulatory News   |   0 Comments

Shlomo Strugano (also known as Shlomy Strugano) of Reseda California a stockbroker formerly registered with First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he declined to testify in a FINRA investigation concerning allegations of forgery. Letter of […]

Read More »

Investors Sue First Allied For Breach Of Fiduciary Duty

Robert Steven Weissbein (also known as Bob Weissbein) of Davie Florida a stockbroker currently registered with First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $250,000.00 in damages founded on allegations that (1) the customer’s account was administered negligently during the period in which Weissbein […]

Read More »

FINRA Bars First Allied Stockbroker For Ignoring Inquiry

Gregory Alan Levine (also known as Greg Alan Levine) of Fort Lauderdale Florida a stockbroker formerly employed by First Allied Securities has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that Levine neglected to respond to an inquiry that FINRA made regarding his activities possibly […]

Read More »

First Allied Securities Broker Fined For Misleading Statements

November 23, 2018  |   Posted by :   |   Investment and Regulatory News   |   0 Comments

Michael Eugene Health of Ladera Ranch California a stockbroker formerly employed by First Allied Securities has been fined $12,500.00 and suspended for forty-five days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based in part upon Health consenting to findings that he used unwarranted investment performance summaries when consulting with […]

Read More »

Investors Sue First Allied Securities For Misrepresentation

November 23, 2018  |   Posted by :   |   Direct Participation Programs, Investment and Regulatory News   |   0 Comments

William Danny Chancellor of Ridgeland Mississippi a stockbroker formerly employed by First Allied Securities, Inc. is referenced in a customer initiated investment related arbitration claim which settled for $20,000.00 in damages based upon allegations that (1) misrepresentations and omissions had been made to the customer concerning the risks and fees of direct participation program or […]

Read More »

First Allied Blamed By Investors For Bad Tax Advice

October 22, 2018  |   Posted by :   |   Investment and Regulatory News, Variable Annuites   |   0 Comments

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 […]

Read More »

First Allied Investors Seek $1 Million

Ronald Reed McCook of Scottsdale Arizona a stockbroker currently employed by First Allied Securities Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $1,000,000.00 in damages based upon accusations including (1) fraud (2) failure to supervise (3) omissions and misrepresentation (4) breach of fiduciary duty (5) breach of […]

Read More »

First Allied Stockbroker Barred In FINRA Investigation

Sean Aaron Brady of Saint Louis Missouri a stockbroker formerly employed by First Allied Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide documents and information to FINRA in an investigation into allegations of his sales practice […]

Read More »

First Allied Discharges Broker For Unauthorized Trading

Kevin James Palmer of Scottsdale Arizona a stockbroker formerly registered with First Allied Securities Inc. has been discharged by the firm on February 6, 2018 founded on accusations that Palmer violated the firm’s policies by placing trades in two customer accounts on a discretionary basis without first procuring written authorization from the customer and First […]

Read More »

First Allied Accused By Customer Of Misrepresentation

William Michael Robertson of Deer Park Texas a stockbroker formerly registered with First Allied Securities Inc. and advisor with First Allied Advisory Services has been referenced in a customer initiated investment related written complaint on January 5, 2018 where the customer sought $22,000,000.00 in damages founded on allegations that (1) investment recommendations had been made […]

Read More »

First Allied Fires Broker For Falsifying Signatures

March 07, 2018  |   Posted by :   |   Forgery, Investment and Regulatory News   |   0 Comments

Sean Aaron Brady of Saint Louis Missouri is a stockbroker formerly registered with First Allied Securities Inc. who has been fired on October 20 2017 supported by allegations that Brady violated the firm’s policies relating to the falsification of signatures on customer account documentation and improper use of consolidated account statements. Financial Industry Regulatory Authority […]

Read More »

First Allied Terminates Stockbroker For Selling Away

November 20, 2017  |   Posted by :   |   Selling Away and Outside Activities   |   0 Comments

Gregory Alan Levine, of Fort Lauderdale, Florida, a stockbroker registered with First Allied Securities, Inc., was fired on June 21, 2017, based upon accusations that he sold away from the firm, and failed to notify First Allied that he was subject of a customer initiated investment related complaint in which he was accused of effecting […]

Read More »

First Allied Securities Broker Barred By Regulator

October 05, 2017  |   Posted by :   |   Selling Away and Outside Activities   |   0 Comments

John Kaleihiehie Kai, of Hilo, Hawaii, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that he did not provide FINRA staff with information about Kai’s business activities. Case No. 2017053680001 (September 12, 2017). Kai was previously suspended on July 3, 2017, but did not […]

Read More »

Capital Investment Group Sued For Fraud

September 22, 2017  |   Posted by :   |   Breach of Fiduciary Duty, Investment and Regulatory News   |   0 Comments

Kelly Gene Richards, of Phoenix, Arizona, a stockbroker formerly registered with Capital Investment Group, Inc., has been named in a customer initiated investment related arbitration claim on June 27, 2016, in which customers collectively requested $650,000.00 in damages based upon allegations that Richards breached his fiduciary duties to the customers, negligently managed the customers’ investment […]

Read More »

Philadelphia Stockbroker Suspended For Unauthorized Trading

February 27, 2017  |   Posted by :   |   Investment and Regulatory News, Unauthorized Trading   |   0 Comments

Larry Westly Farmbry, of Philadelphia, Pennsylvania, a stockbroker formerly registered with First Allied Securities, Inc., has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he effected trades in customer accounts on a discretionary basis in violation of his firm’s […]

Read More »

Cetera Firms Fined For Failure To Supervise Variable Annuity Sales

The Cetera Firms, which include Cetera Advisor Networks LLC, (headquartered in El Segundo, California), Cetera Financial Specialists LLC (headquartered in Schaumburg, Illinois), First Allied Securities, Inc. (headquartered in San Diego, California), Summit Brokerage Services, Inc. (headquartered in Boca Raton, Florida), and VSR Financial Services, Inc. (headquartered in Overland Park, Kansas), were censured and fined by […]

Read More »

Five Major Brokerage Fined for Failure to Supervise Mutual Fund Fraud

November 15, 2015  |   Posted by :   |   Investment and Regulatory News, Mutual Fund Fraud   |   0 Comments

Ameritas Investment Corp., Cetera Advisors LLC, Comerica Securities, Inc., Fifth Third Securities, Inc., First Allied Securities, Inc., Park Avenue Securities, LLC, Securities America, Inc., Huntington Investment Company, Cetera Advisor Networks LLC, Commonwealth Financial Network, MetLife, and Infinex Investment, Inc., were all recently censured and fined by Financial Industry Regulatory Authority (FINRA) for failing to apply […]

Read More »

Former First Allied Broker Fined for Outside Business Activities

Thomas R. Fortino, a former broker with First Allied Securities Inc., was fined and suspended by the Financial Industry Regulatory Authority (FINRA) after he engaged in business outside his firm, often called selling away, and misled his firm about these activities. Fortino submitted a Letter of Acceptance, Waiver and Consent (AWC) that resolved the FINRA […]

Read More »