April 2019- Houston, Texas
We are currently investigating former First Allied Securities financial advisor William M. Robertson.
According to FINRA records, William (Mike) Robertson , discloses a currently pending dispute and 3 prior customer disputes.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In January 2018 a customer of First Allied Securities and First Allied Advisory Services alleged that from 2008-2014, Robertson recommended unsuitable investments and failed to disclose risk associated with investment recommendations. Claims include breach of fiduciary duty, misrepresentations and failure to supervise. Damages were alleged to be $22 million. In 11/2018 the case was settled for $3.5 million.
According to Robertson’s FINRA record, in 5/2010, a customer of First Allied Securities was paid $110,000 to resolve allegations that their account had been churned, was traded without authority, and had improper use of margin borrowing. FINRA Case #09-3968.
In currently pending FINRA Case #18-03383, a customer of First Allied Securities alleges that Robertson recommended unsuitable investments in real estate securities causing damages of $75,000.
Robertson was registered with First Allied Securities from 10/2000-12/2016. He discloses business affiliations with Robertson Wealth Management, Advanced Financial Services, and was host of the Straight Talk Money radio show.
Invest in AFIN-American Finance Trust ?
Upon information and belief Robertson recommended that certain clients invest in American Finance Trust (AFIN) a real estate investment formerly known as American Realty Capital Trust V. This investment has plummeted in value over the recent years. See this for more on American Finance Trust.
If you have losses in an account handled by William M. Robertson, contact us for a no charge consultation to discuss your options and to learn how you may be able to recover damages for account losses through FINRA arbitration.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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