Financial Industry Regulatory Authority (FINRA) BrokerCheck reveals disclosures about securities broker Theresa Allen (also known as Theresa Binkley, Theresa Givens) [CRD: 2183693, Newport Beach, California]. Allen has worked in the securities industry for 32 years, most recently registering with RBC Capital Markets LLC in April 2023. Prior to that, she was employed with First Republic Securities Company LLC and First Republic Investment Management Inc. from July 2010 to May 2023.
Recent disclosures reveal concerns about Allen’s conduct, including multiple allegations of unsuitable investment recommendations and unauthorized trading that resulted in substantial settlements and pending arbitration claims.
A client of First Republic Securities Company LLC alleged that Allen engaged in unsuitable investment recommendations and unauthorized trading between November 2019 and July 2021. The client sought $1,750,000 in damages. On September 13, 2024, the firm settled the case for $950,000. Allen stated she did not contribute to the settlement amount.
A client of First Republic Securities Company LLC alleged that Allen made unsuitable investment recommendations between 2018 and May 2023. The client sought $1,070,000 in damages. On May 28, 2024, the firm settled the dispute for $750,000. Allen asserted that she did not contribute to the settlement amount.
A client of First Republic Securities LLC claimed that Allen engaged in unsuitable investment recommendations between 2017 and April 2023, seeking $325,000 in damages. On July 19, 2024, the case was settled for $212,500. Allen noted that she did not contribute to the settlement.
A client alleged that Allen recommended unsuitable investments in First Republic Bank preferred stock. The client sought $300,000 in damages. On January 5, 2024, the matter was settled for $250,000. Allen did not contribute to the monetary compensation.
A client of First Republic Securities Company LLC claimed that Allen recommended unsuitable investments in First Republic Bank preferred stock. The client is seeking $691,000 in damages. This case remains pending.
A client alleged that Allen took unauthorized actions related to First Republic Bank preferred stock in July 2023, with securities originally purchased in June 2018 and November 2021. The client sought $1,070,000 in damages, but the firm denied the claim on December 19, 2023.
Clients accused Allen of misrepresentation and poor investment advice regarding preferred stock investments from May 2012 to November 2021, seeking $1,413,000 in damages. On July 28, 2023, the claim was denied.
Looking for more information about Theresa Allen? If so, reach out to Soreide Law Group online or at (888) 760-6552 to speak with a securities attorney. The team at Soreide Law Group works on a contingency basis, advances all costs, and assists clients throughout the United States with recovering losses from sales practice misconduct. Allen and the firms she worked for deny accusations of sales practice violations.
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