AMERICAN PORTFOLIOS FINANCIAL and BRIAN JOSEPH DIBRINO

Soreide Law Group has filed a FINRA arbitration on behalf of their client (Claimant) against:
AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC., and their registered representative, BRIAN JOSEPH DIBRINO (Respondents)
The Claimant resides in New Jersey and recently retired from his business of 30 years. In preparation for his retirement, the Claimant had transitioned the majority of his money to conservative investments consisting mostly of CD’s and annuities. The Claimant allegedly explained to registered representative, BRIAN JOSEPH DIBRINO, that he was looking to protect his principal and generate income to sustain him through retirement.
According to the lawsuit, BRIAN JOSEPH DIBRINO, allegedly recommended that the Claimant purchase PHI Group bonds, which has now filed Chapter 11 at a $200,000 loss to the Claimant (PHI Group flies workers out to offshore oil rigs by helicopter), Diamond Offshore Drilling down now $50,000, Valris PLC (an offshore drilling contractor) down $30,000, Alliance One Intl 2^nd Lien down $102,000, and United States Steel down $17,000. The lawsuit states that the Claimant transferred in many stable investments that were allegedly used to purchase investments which caused further financial damage to the Claimant by losing his future revenue stream he could have maintained through retirement.
The Claimant has suffered devastating losses to his retirement savings in oil and gas investments. AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC., and their registered representative, BRIAN JOSEPH DIBRINO, allegedly never made an attempt to build a diversified portfolio to protect the Claimant’s retirement savings. The lawsuit alleges that there were no hedging or stop loss strategies implemented in the account and according to the lawsuit has now cost the Claimant over $400,000 of retirement savings and tens of thousands more in lost opportunity cost.
The lawsuit alleges: negligence, breach of fiduciary duty and negligent supervision.  The Respondents deny the allegations.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, BRIAN JOSEPH DIBRINO, has 4 Disclosures on his CRD report.  In July of 2016, there is an “Employment Separation After Allegations” listed.  Dibrino was discharged from First Allied Securities, Inc. following allegations that, “Registered Investment Adviser Representative failed to follow firm policy by permitting a non-registered assistant to reuse client signatures and working in concert with the same assistant to alter client signed documents.” There are also 3 Customer Disputes listed.
Dibrino is currently registered with since 8/12/2016:

BRIAN JOSEPH DIBRINO has been in the securities industry for 23 years and has been listed with 6 firms. Before American Portfolios Financial, the most recent firms he was listed with were:
06/17/2015 - 08/10/2016 FIRST ALLIED ADVISORY SERVICES, INC. - FAIRFIELD, NJ
06/15/2015 - 07/26/2016 FIRST ALLIED SECURITIES, INC. - Fairfield, NJ
03/02/2007 - 06/16/2015 SII INVESTMENTS, INC - FAIRFIELD, NJ
If you’ve experienced investment losses due to the actions or recommendations of AMERICAN PORTFOLIOS FINANCIAL SERVICES, INC., and/or their registered representative, BRIAN JOSEPH DIBRINO, of Fairfield, New Jersey, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and represents our clients nationwide before FINRA.