WILLIAM ROBERTSON Give You Bad Investment Recommendations?

Soreide Law Group is evaluating possible claims on behalf of investors who suffered losses by investing with First Allied Securities Inc. broker William Robertson (CRD#: 823461, Deer Park, Texas). According to the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck, at least five clients complained about Robertson’s sales practices. Here’s a closer look at the clients’ claims which suggest Robertson made bad recommendations and acted negligently with his clients.

First Allied Securities Client Suggests William Robertson Recommended Unsuitable Investments

 

A client of First Allied Securities Inc. brought FINRA Arbitration #18-03383. Mainly, the client claimed that when William Robertson was the client’s advisor, he made bad recommendations about real estate security investments. Next, the client suggested that Robertson failed to comply with his fiduciary responsibility to the client. Plus, Robertson supposedly violated an investment agreement governing the client’s investments. Furthermore, Robertson failed to take proper care of the client’s investments, and First Allied Securities failed to supervise him. As a result, the firm compensated the client in order to settle the matter April 30, 2019.

Complaint Filed By First Allied Client Suggests Robertson Failed To Disclose Risks on REITS

A First Allied Securities Inc. client complained about William Robertson’s activities in a compliant dated January 5, 2018. Allegedly, Robertson suggested unacceptable investments which included non-traded REITs, UITs, municipal bonds and auction rate securities. Supposedly, those securities were unreasonable because they were too risky for the client. Allegedly, Robertson did not tell the client about investment risks, which seemingly explains why the client agreed to the trades. Indeed, the client claimed that Robertson misrepresented the investments, and that he breached a fiduciary duty. Because of this, on November 5, 2018, First Allied agreed to pay the client $3,500,000 to resolve the matter.

First Allied Client Files Arbitration, Alleges William Robertson Churned The Client’s Account

 

FINRA BrokerCheck shows that First Allied clients brought FINRA Arbitration #:09-03968 on July 23, 2009. Primarily, the clients suggested that William Robertson churned OTC equities in the client’s account. Supposedly, Robertson traded the client’s holdings mainly to generate commissions for himself. Not only that, but the client allegedly never authorized Robertson’s trades. The Statement of Claim also makes allegations of Robertson selling unsuitable investments and irresponsibly using margin. This client reportedly received $110,000 in compensation from First Allied Securities to settle the dispute.

Lars Soreide Highest Ethical Standard Award 2018

Lars Soreide Highest Ethical Standard Award 2018

Experienced losses by investing with securities broker William Robertson? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.