First Allied Securities Client Complains Of Alleged Unsuitable Recommendations By Broker Bob Weissbein
Soreide Law Group provides you with new information in regard to securities broker Robert Steven Weissbein “Bob Weissbein” (CRD#: 1089065, Plantation, Florida). Evidently, Weissbein worked as a securities broker or financial advisor for Capital Guardian LLC, Capital Guardian Wealth Management LLC, First Allied Advisory Services Inc. (2014 to 2020), First Allied Securities (2014 to present), and Cetera Investment Advisers LLC (2020 to present). Supposedly, clients of First Allied Securities and Capital Guardian alleged unsuitable trading, per disputes concerning Weissbein. Here’s more about those disclosures, including what you could do if you experienced losses from sales practice violations.
First Allied Client Alleges Unsuitable Recommendations Of Real Estate Securities By Bob Weissbein
Evidently, a client of First Allied Securities came forward with a dispute about Bob Weissbein in July 2019. Namely, the client alleges that Weissbein provided unsuitable advice regarding investments, including a real estate security. Not only that but the client alleged breach of fiduciary duty and negligence. Supposedly, the client experienced damages by investing through Weissbein. Because of this, without admission of liability, First Allied Securities compensated the client in the amount of $35,000 in November 2020.
BrokerCheck shows that Weissbein denied the client’s allegations. Specifically, according to BrokerCheck, Weissbein contends that the investments were suitable based on the client’s investment profile.
Client Of Capital Guardian Alleges Breach Of Fiduciary Duty, Negligence
Notably, a client of Capital Guardian LLC disputed Bob Weissbein’s sales practices, according to a FINRA Arbitration Claim from 2017. Supposedly, Weissbein recommended investments without telling the client about the risks. Also, the securities firm allegedly breached a fiduciary duty and failed to supervise Weissbein. Further, the claim alleges breach of contract, negligence, and misrepresentation concerning DPPs and LPs. For this reason, Capital Guardian opted to settle this matter in 2019 by making a $20,000 payment to the client.
Weissbein denies the client’s allegations and contends that investments were suitable given the client’s risk tolerance and investment objectives.
Losses By Investing With Bob Weissbein?
Note that securities broker Bob Weissbein denies misconduct allegations against him. Have you experienced investment losses by interacting with this broker? You should reach out to Soreide Law Group at (888) 760-6552 and talk to experienced counsel concerning a possible recovery of your investment losses. Soreide Law Group handles investor dispute cases on a contingency fee basis. Also, we advance all costs. The law firm has recovered significant compensation for US clients who have experienced losses from securities brokers and financial advisors.