Investors might have sustained losses due to securities broker Robert Gerard Devita [CRD: 1865964, Downers Grove, Illinois], according to publicly available information through FINRA’s BrokerCheck. Evidently, Robert Devita joined Ausdal Financial Partners Inc. on July 1, 2010, working as both a broker and investment adviser representative. Below, you can discover more about the disclosures involving Devita, including allegations concerning negligence.
Specifically, a client of Ausdal Financial Partners Inc. contested Robert Devita’s sales practices by filing FINRA Arbitration No. 24-01302. Allegedly, Devita violated Illinois securities law, breached his fiduciary duty, violated Regulation Best Interest, and was negligent. It appears that Devita caused the client to sustain damages on GWG L Bonds. Therefore, Ausdal Financial Partners Inc. opted to settle the matter on March 3, 2025, by compensating the client in the amount of $8,500.00.
When a broker is negligent, it generally means they failed to act with care and diligence. In the context of risky investments like GWG L Bonds, this could include not adequately researching the product, not understanding or communicating its risks, or recommending it to clients for whom it was unsuitable. Negligence in these cases often results in clients being exposed to investments that carry more risk than they can tolerate or afford, leading to financial losses. Securities brokers and financial advisors must act in their client’s best interest, and failure to do so may constitute actionable misconduct.
Are you concerned about your investments with Robert Devita? You can contact Soreide Law Group online or at (888) 760-6552 and talk to a securities lawyer regarding a possible recovery of your investment losses. Soreide Law Group has helped recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Devita and any registered investment advisors / securities broker dealers Devita worked for deny accusations of sales practice violations.
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