Charles Bloom Barred, Involved In IAA Investor Dispute

IAA, Chelsea Clients File Suitability Disputes Involving Broker Charles Bloom

Soreide Law Group comes to you with new information relating to securities broker Charles Lewis Bloom (CRD#: 4144108, Royal Palm Beach, Florida). It appears that the disclosures involving Bloom concern his employment at securities firms IAA Financial LLC (his employer from 2014 to 2015), International Assets Advisory LLC (his employer in 2015), and Chelsea Financial Services (his employer from 2016 to 2018). For more information on the allegations against this securities broker, read the following summary of disclosures as reported on BrokerCheck.

IAA Financial Client Alleges Unsuitable Recommendations, Breach Of Fiduciary Duty In Arbitration Claim About Charles Bloom

Evidently, a client of IAA contested Charles Bloom’s sales practices by making an investment dispute on October 25, 2021. The investor’s dispute against the securities firm alleges unsuitable recommendations, violation of FINRA Rule 3110, breach of fiduciary duty, and negligence. Supposedly, Bloom caused the client to incur damages via his actions relating to DPPs and LPs. For this reason, this investor contends that the securities firm should pay $75,000 in damages to resolve the client’s allegations. This matter awaits a resolution.

Client Alleges Negligence At International Assets Advisory, Chelsea Financial Services

Particularly, a client objected to Charles Bloom’s actions as a securities broker while working for International Assets Advisory and Chelsea Financial Services. This client brought an investment dispute on December 4, 2019. Mainly, they allege negligent supervision, negligence, breach of fiduciary duty, and unsuitable recommendations. Consequently, the client contends that Bloom’s actions caused damages on DPPs and LPs, and REITs. Evidently, those firm agreed to settle with the client, without admitting liability, by paying them $40,000 in damages per a settlement on September 2, 2021.

FINRA Bars Bloom Over Alleged Refusal To Appear During Unsuitable Trading Investigation

FINRA barred Charles Bloom as a securities broker effective July 17, 2018. The regulator usually expels a securities broker who fails to comply during an investigation. In particular, the regulator alleges that the securities broker refused to appear for testimony relating to alleged unsuitable trading in three client accounts when he worked for Chelsea Financial Services.

Charles Bloom’s 1^st Discount Brokerage Inc. Client Alleges Active Trading Resulting In Damages

It appears that a 1^st Discount Brokerage Inc. client took issue with Charles Bloom’s actions, according to a dispute. The investor’s dispute against the securities firm alleges unauthorized trading (discretionary trading) and promises to cover losses. Supposedly, this client realized damages because of Bloom’s actions concerning over-the-counter equities. Notably, the client agreed to settle their allegations with 1^st Discount Brokerage Inc., as the firm agreed to pay the client $50,000 in damages per settlement.

Did You Sustain Damages By Investing Through Bloom?

Did securities broker Charles Bloom cause you to experience losses? You could touch base with Soreide Law Group at (888) 760-6552 to talk with an experienced investor dispute lawyer right away about a possible recovery of your losses. We take cases by a contingency fee arrangement and advance all costs. The firm has recovered meaningful compensation for investors in the US who realized losses from financial advisors or securities brokers. Please note that Bloom denies the allegations of unreasonable sales practices.