Last Updated: January 2024 (Sarasota, FL)
Jeff Labelle Investigation Summary
Here’s what you need to know about Sarasota, FL, stockbroker Jeffrey Labelle:
- Name: Mr. Jeffrey Guy Labelle
- Current Employer: Not currently registered with FINRA, International Assets Investment Management (RIA)
- DBA: Gulf Coast Wealth Advisors, Labelle & Associates
- Previous Firms: LPL Financial, First Allied Securities, Woodbury Financial Services
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: Jeff Labelle
- Primary Location: Sarasota, FL
- CRD 1547518
- Can Jeff Labelle be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a prior employer: Yes
- Highest Settlement or Award: $125,000
- 14 Pending Customer Disputes Seek Damages in excess of $2 Million
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Jeff Labelle As Your Stockbroker?
Jeff Labelle discloses 14 pending customer disputes/arbitrations which seek total damages in excess of $2 million. The bulk of these pending claims relate to when he was employed by First Allied Securities and the products complained of are alternative investments, mostly real estate investment trust (REITs) and Oil & Gas investments. Claims range from $25,000 to $400,000.
Fourteen prior customer disputes have been settled for a cumulative amount of about $800,000. Most of these claims relate to his employment with First Allied Securities and involve alternative investments.
In 2007 Jeff Labelle was discharged by SII Investments for his failure to comply with firm policies and procedures regarding advertising.
See this for more information on REITs and Other Alternative Investments
Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer. FINRA Rule 2111- suitability
Allegations of Broker Misconduct Against Jeff Labelle
Customers of Jeff Labelle have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendations to invest in alternative investments
- Negligence
- Breach of fiduciary duty
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
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.
Recover Your Investment Losses Now With Rex Securities Law
Our Investigations of other First Allied Securities brokers
If you have suffered investment losses in an account handled by Jeff Labelle, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
