Customers Allege Misconduct By First Allied Securities Brokers

Soreide Law Group is investigating claims on behalf of investors who may have been victim to sales practice violations committed by First Allied Securities, Inc. (CRD#: 32344, San Diego, California) brokers including Douglas Alexander and Kevin Vandyke. Here is a summary of customers’ complaints against those brokers:

May 15, 2018 Complaint Concerning First Allied Securities Broker Kevin Vandyke

Kevin Michael Vandyke (CRD#: 2776051, Bloomfield Hills, Michigan) is a First Allied Securities, Inc. general securities representative. He joined First Allied Securities, Inc. on October 15, 2013. Kevin Vandyke disclosed on FINRA BrokerCheck that a First Allied Securities, Inc. customer filed a complaint on May 15, 2018. Namely, the customer claimed that Kevin Vandyke misrepresented important investment information about real estate investment trust (REIT) investments. Apparently, those misrepresentations led the customer to purchase the real estate securities. Now, the customer has requested at least $7,793.24 in damages to resolve the matter. Formerly, Kevin Vandyke worked at SII Investments, Inc. in Bloomfield Hills, Michigan.

April 25, 2018 Arbitration Concerning First Allied Securities’ Douglas Alexander

Douglas Haig Alexander (CRD#: 2087736, Richmond, Virginia) became a general securities representative of First Allied Securities, Inc. on November 29, 2010. Apparently, a First Allied Securities, Inc. customer complained about Douglas Alexander by filing FINRA Arbitration #17-03027 on April 25, 2018. Allegedly, Douglas Alexander made bad investment recommendations to the First Allied Securities, Inc. customers. Apparently, customers purchased unsuitable real estate securities, DPP or LP interests because of Douglas Alexander’s recommendations. Evidently, First Allied Securities, Inc. agreed to pay the customer $25,000.00. Accordingly, the matter settled on June 19, 2018 without admission of Douglas Alexander’s liability. Douglas Alexander also disclosed on his FINRA BrokerCheck report that First Investors Corp. (Douglas Alexander’s former employer) terminated him for not disclosing a felony charge.

If you have suffered losses by investing with First Allied Securities, Inc. brokers Kevin Michael Vandyke, Douglas Haig Alexander or another broker that misrepresented your investments or sold unsuitable you investments, call (888) 760-6552 for a free consultation with Soreide Law Group’s experienced counsel. Our firm has recovered millions of dollars for investors who have been victim to broker and brokerage firm misconduct. We represent clients on a contingency fee basis and advance all costs.