Investors might have sustained losses due to securities broker Alan Duane Douglass (also known as Roof Douglass) [CRD: 1619835, Clearwater, Florida], based on publicly available information Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Douglass worked for Investacorp Inc. from March 7, 1995, to July 17, 2020; for Securities America Inc. from July 17, 2020, to June 14, 2024; and for Osaic Wealth Inc. beginning June 14, 2024. Read on to discover more about Douglass’s disclosures.
Investacorp Inc. Investor Accused Roof Douglass Of Misrepresentation
Specifically, on July 3, 2024, an Investacorp Inc. client filed a complaint about Alan Douglass. Mainly, the client alleged that Douglass misrepresented a real estate investment trust and made unsuitable recommendations. Consequently, the client requested $5,000 in compensation from Investacorp Inc. or Douglass. However, the firm denied this complaint.
Securities America Inc. Investor Accused Alan Douglass Of Unsuitable Recommendations
Also, on May 26, 2022, a Securities America Inc. client filed a complaint about Alan Douglass. Primarily, the client alleged that Douglass made unsuitable recommendations when selling a variable annuity. As a result, the client requested $5,000 in compensation from Securities America Inc. or Douglass. However, the firm denied this complaint.
Investacorp Inc. Investor Accused Alan Douglass Of Overconcentration
Additionally, an Investacorp Inc. client filed FINRA Arbitration No. 21-02431 about Alan Douglass. Mainly, the client alleged that Douglass overconcentrated accounts. Because of this, the client allegedly sustained damages on real estate securities. Therefore, on December 6, 2022, Investacorp Inc. settled this matter by paying the client $40,000.00 in damages.
Roof Douglass Disclosed Unsuitable Recommendations Allegations By Securities America Inc. Client
Evidently, a client of Securities America Inc. contested Alan Douglass’s sales practices by bringing FINRA Arbitration No. 21-01876. Allegedly, Douglass made unsuitable recommendations concerning direct investments and real estate securities. Consequently, Securities America Inc. opted to settle the matter on July 1, 2022, by compensating the client in the amount of $55,000.00.
Were You Impacted By Financial Advisor / Securities Broker Alan Douglass?
Are you concerned regarding investments you made with Alan Douglass? You can get in touch with Soreide Law Group online or at (888) 760-6552 and consult with a securities attorney about a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee arrangement and advances all costs. Douglass and brokerage firms Douglass worked for deny allegations referenced in public disclosures.
