Investors might have sustained losses due to securities broker Derek Guy McLean [CRD: 1939560, Chino, California], according to public information located on Financial Industry Regulatory Authority (FINRA) BrokerCheck. McLean worked for First Allied Securities Inc. from May 30, 2008, to September 8, 2022, and later registered with Cetera Investment Advisers LLC on November 12, 2020, and Cetera Advisors LLC beginning September 8, 2022. Investors are encouraged to continue reading to find out more about disclosures involving this securities broker.
Particularly, a Cetera Advisors LLC client filed FINRA Arbitration No. 23-03099 about Derek McLean. Mainly, the client alleged that McLean breached a contract, failed to supervise certain representatives, breached his fiduciary duty, and committed elder abuse, while also raising suitability concerns. For this reason, the investor allegedly sustained damages pertaining to interval funds. As a result, on August 23, 2024, Cetera Advisors LLC settled this matter by paying the client $196,000 in damages.
Additionally, a client of First Allied Securities Inc. contested Derek McLean’s sales practices by filing FINRA Arbitration No. 20-02512. Allegedly, McLean made unsuitable recommendations, was negligent, and failed to supervise certain representatives, while also breaching various duties. It appears that McLean allegedly caused the client to suffer damages relating to variable annuities and real estate securities. Therefore, First Allied Securities Inc. opted to settle the matter on October 21, 2021, by compensating the client in the amount of $22,500.
Do you have concerns or questions regarding investments you made with Derek McLean? If so, reach out to Soreide Law Group at (888) 760-6552 or online and talk to a securities lawyer concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for hundreds of investors throughout the country. Also, our securities lawyers work on a contingency fee arrangement and advance all costs. McLean and brokerage firms McLean worked for deny any accusations of sales practice violations.
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Investors potentially incurred losses because of securities broker Raymond Trey Brown [CRD: 6170291, Frisco, Texas], and FINRA sanctioned him, according to disclosures on FINRA BrokerCheck. Brown worked for Northwestern Mutual Investment Services LLC, from March 17, 2014, to December 13, 2024. See below to learn more about Brown’s disclosures. FINRA Sanctioned Raymond Brown For Failure […]
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