Ray Gallette Involved In Coastal Equities Client’s Dispute About Unsuitable Advice

Investors potentially experienced losses due to securities broker Ray Don Gallette [CRD: 3041923, El Dorado Springs, Missouri], according to disclosures on FINRA BrokerCheck. Evidently, Gallette worked for Coastal Equities Inc. from January 4, 2013 to January 29, 2020. Keep reading to learn more about the disclosures involving this securities broker and the types of investments that were involved.

Coastal Equities Inc. Investor Accused Gallette Of Unsuitable Recommendations

Specifically, on October 28, 2024, a Coastal Equities Inc. client filed FINRA Arbitration No. 24-02252 about Ray Gallette. The client alleged that Gallette made unsuitable recommendations. Because of this, the client allegedly sustained damages on alternative investments. Therefore, the client requested $239,000 in compensation from Coastal Equities Inc. or Gallette. Evidently, this arbitration is pending a resolution.

Ray Gallette Disclosed Unsuitable Trading Allegations By Coastal Equities Inc. Client

Also, a client of Coastal Equities Inc. contested Ray Gallette’s sales practices by filing FINRA Arbitration No. 24-00719 on March 29, 2024. Allegedly, the broker made unsuitable transactions concerning alternative investments. Consequently, the client seeks damages from Coastal Equities Inc. or Gallette in the amount of unspecified damages in this ongoing matter.

Coastal Equities Inc. Investor Accused Gallette Of Unreasonable Due Diligence

Particularly, a Coastal Equities Inc. client filed FINRA Arbitration No. 23-02153 about Ray Gallette. The client alleged that Gallette made unsuitable recommendations and failed to perform due diligence. Because of this, the client allegedly sustained damages. As a result, on December 30, 2024, Coastal Equities Inc. settled this matter by paying the client $80,000 in damages.

Ray Gallette Disclosed Unsuitable Advice Allegations By Coastal Equities Inc. Client

Specifically, a client of Coastal Equities Inc. contested Ray Gallette’s sales practices by filing FINRA Arbitration No. 23-01982. Allegedly, Gallette made unsuitable recommendations. Supposedly Gallette caused the client to sustain damages on direct investments. Therefore, Coastal Equities Inc. opted to settle the matter on September 13, 2024, by compensating the client in the amount of $150,000.

Coastal Equities Inc. Investor Accused Gallette Of Misrepresentation

Evidently, a Coastal Equities Inc. client filed FINRA Arbitration No. 23-00379 about Ray Gallette. The client alleged that Gallette made unsuitable recommendations and made misrepresentations. Because of this, the client allegedly sustained damages on direct investments. Therefore, on August 30, 2024, Coastal Equities Inc. settled this matter by paying the client $45,000 in damages.

Ray Gallette Disclosed Unreasonable Due Diligence Allegations By Coastal Equities Inc. Client

Also, a client of Coastal Equities Inc. contested Ray Gallette’s sales practices by filing FINRA Arbitration No. 20-02889. Allegedly, Gallette made unsuitable recommendations and Coastal failed to perform due diligence. Supposedly Gallette caused the client to sustain damages on real estate securities and direct investments. As a result, Coastal Equities Inc. opted to settle the matter on October 17, 2022, by compensating the client in the amount of $159,000.

Concerned About Investments Made Through Securities Broker Gallette?

Seeking more information about Ray Gallette? If so, reach out to Soreide Law Group online or at (888) 760-6552 and consult with a securities lawyer. Soreide Law Group has recovered losses for investors throughout the US, works on a contingency fee basis, and advances all costs. Gallette and brokerage firms Gallette worked for deny accusations of sales practice violations.