Did you lose money investing with former Madison Avenue Securities, LLC broker Robert Fagan (CRD# 1572927) regarding unsuitable investment recommendations? He has been registered with Cetera Advisors LLC in San Diego, California, since 2022, and Cetera Investment Advisers LLC in San Diego, California, since 2021. He was registered with First Allied Securities, Inc. in San Diego, California, from 2021 to 2022, and Madison Avenue Securities, LLC in Encinitas, California, from 2009 to 2021.
Robert Fagan Customer Complaints
He has been the subject of four customer complaints between 2021 and 2025, according to his CRD report:
January 2025. “Unsuitable recommendations of alternative investments.” The customer is seeking $125,000 in damages, and the case is currently pending. The complaint was regarding direct investments.
November 2023. “Claimants allege unsuitable recommendations of alternative investments, primarily in NorthStar Healthcare REIT. The dates vary for the numerous claimants listed.” The case was settled for $345,000. The complaint was regarding direct investments and real estate securities. It took place while he was registered with Madison Avenue Securities, LLC.
January 2023. “Unsuitable recommendations of alternative investments.” The customer sought $698,000 in damages, and the case was settled for $300,000. The complaint was regarding direct investments.
October 2021. “Client alleged unsuitable recommendations of alternative investments.” The customer sought $124,048 in damages, and the case was settled for $9,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Madison Avenue Securities, LLC may be liable for investment or other losses suffered by Robert Fagan’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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