SUMMIT BROKERAGE SERVICES INC Lawsuit Filed

Soreide Law Group, a Florida-based law firm, has filed a FINRA arbitration on behalf of their client (Claimant) against:
SUMMIT BROKERAGE SERVICES INC (Respondent).
The Claimant, an 89 year-old widow living in Florida, brings this lawsuit to recover her investment losses. The lawsuit claims, SUMMIT BROKERAGE SERVICES INC and its registered representative, Norman Robbins, allegedly over-concentrated the Claimants’ portfolio in real estate investments, and on commodity funds and energy stocks such as Suburban Propane. Norman Robbins is not named in this lawsuit.
SUMMIT BROKERAGE SERVICES INC allegedly failed to advise the Claimant regarding the risks of the concentrated investment strategy.
The Claimant suffered damages, according to the lawsuit, of approximately $100,000 even as the overall markets have recovered from recent volatility.
The lawsuit claims, SUMMIT BROKERAGE SERVICES INC actions in this case allegedly constitute: breach of contract, negligent supervision, negligence, breach of fiduciary duty, and violations of FINRA rules.
According to FINRA’s BrokerCheck, available to the public on FINRA’s website, NORMAN ARNOLD ROBBINS (Also known as: NORMAN ARNOLD ROSENBERG, NORMAN ROBBINS) CRD#: 731352, has 5 disclosures on his FINRA CRD report.  Of the 5 disclosures, 4 are “Customer Disputes,” and 1 is a “Regulatory.” All 4 Customer Disputes, dating back to 1989, have settled.  Some of the allegations were: breach of contract, fraud, deceit, breach of fiduciary duties, unsuitable trades, and misrepresentation.
Robbins has been registered in the securities industry for 39 years and was listed with 9 firms. He has been registered with the following firm since 1/3/2020:
AMERIPRISE FINANCIAL SERVICES, LLC
5200 Town Center Cir Ste 600
BOCA RATON, FL 33486-1045
According to FINRA’s BrokerCheck, some of the more recent firms Norman Robbins was registered with were:
09/09/2019 - 01/07/2020  CERTERA ADVISOR NETWORKS LLC - BOCA RATON, FL
08/25/2016 - 01/07/2020  SUMMIT FINANCIAL GROUP INC – BOCA RATON, FL
02/03/2003 - 09/20/2019  SUMMIT FINANCIAL GROUP INC - BOCA RATON, FL 
If you or an elderly loved one have experienced financial losses due to the actions or recommendations of Summit Financial Group and/or their registered representative, Norman Robbins of Boca Raton, Florida, contact Soreide Law Group, conveniently based in Pompano Beach, Florida, and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.
Soreide Law Group works on a contingency fee basis and  we will represent our clients nationwide before FINRA.