Luis Espinoza Facing Allegations Of Breach Of Fiduciary Duty

Soreide Law Group has learned of possible investor claims against securities broker Luis Manuel Espinoza (CRD: 4474528, Riverside, California). Specifically, Financial Industry Regulatory Authority (FINRA) BrokerCheck discloses that investors disputed the sales practices of the securities broker, who worked for First Financial Equity Corporation. Evidently, investors allege sales practice violations in these disputes, including that Espinoza breached a fiduciary duty and gave unsuitable advice, among other things. Here is a brief summary of the disclosures about Espinoza.

Espinoza Discloses Breach Of Fiduciary Duty Allegations By First Financial Equity Corporation Client

Also, a client of First Financial Equity Corporation contested Luis Espinoza’s sales practices by filing FINRA Arbitration: 21-01826. Allegedly, Espinoza breached a fiduciary duty, made unsuitable recommendations, made misrepresentations, and made omissions. It appears that Espinoza possibly caused the client to sustain damages on real estate securities. Therefore, First Financial Equity Corporation opted to settle the matter on November 23, 2021, by compensating the client in the amount of $27,000.

Luis Espinoza Discloses Unsuitable Recommendations Allegations By Allstate Financial Services LLC Client

Also, a client of Allstate Financial Services LLC contested Luis Espinoza’s sales practices, according to a complaint dated February 12, 2008. Allegedly, Espinoza gave unsuitable advice and made omissions. Supposedly, Espinoza possibly caused the client to sustain damages on variable universal life insurance policies. Therefore, the client requested compensation from Allstate Financial Services LLC or Espinoza in the amount of $21,509.42. However, the securities firm denied the complaint.

Recent Employment Information

• Espinoza stopped working for First Financial Equity Corporation on March 2, 2022.
• Espinoza started working for Innovation Partners LLC on February 25, 2022.

Did First Financial Equity Corporation Securities Broker Luis Espinoza Cause You To Experience Damages?

Have you experienced damages due to the actions of Luis Espinoza? If so, you can reach out to Soreide Law Group at (888) 760-6552 and talk with a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group, who has successfully recovered money for hundreds of investors throughout the United States, represents clients on a contingency fee basis and advances all costs. Espinoza and brokerage firms Espinoza worked for deny all allegations of sales practice violations.