Brett S. Ellen Investigation
April 2022 – Las Vegas, NV
According to publicly available records Brett S. Ellen, an unregistered broker who was most recently employed by Metric Financial , discloses a regulatory event, 14 prior customer disputes, and 2 pending customer disputes. Ellen is not currently registered with any broker dealer.
The Financial 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 12/2005 the State of New York Insurance Department filed Case #2007-0358-S in December of 2005 alleging that Ellen failed to give an affirmative answer to the irregularity question on the agent application. A fine of $500 was assessed.
Between 12/2000 and 3/2021, four customer disputes against Ellen were settled. These former customers alleged, among other things: breach of fiduciary duty, unsuitable recommendation, material misrepresentations and omission of material information, failure to supervise, breach of contract, negligence, fraud, violations of securities law, prohibitory injunction, unlawful business practices, conversion and illiquid. The cases were collectively settled for about $68,000.
In October of 2021, a customer of Ellen’s prior employer DFPG Investments , filed FINRA case #21-02518 alleging breach of fiduciary duty, breach of contract, material misrepresentations and omissions, and negligence related to alternative investments. The customer is seeking damages of $1,940,256 in this currently pending case.
In 9/2020, a customer of former employer United Planners filed FINRA case #20-02495 alleging that Ellen made unsuitable investments in high risk products. The customer is seeking damages of $132,396 in this currently pending case.
Ellen was with Metric Financial, Inc. from April of 2021 to March of 2022. Earlier in his career he was with American Financial Advisory Services, International Assets Advisory, Premier Trust Company, AFN Risk Management, DFPG Investments and United Planners’ Financial Services.
If you have questions about account handled by Brett S. Ellen, contact us for a no charge consultation to learn about your legal options for recovery of losses.
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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