There are options for customers of Allegis Investment Services, LLC financial advisor Charles Sorensen II (CRD# 3255618) regarding mutual funds and options losses. Sorensen has been registered with Allegis Investment Services, LLC in North Logan, Utah since 2014. Previously, Sorensen was registered with Signator Financial Services, Inc. in North Logan, Utah from 2010 to 2014.
Sorensen has been the subject of five customer complaints between 2015 and 2018, two of which were closed without action, according to his CRD report:
- March 2018. “Client alleges there were misrepresentations and the options strategy in the discretionary account was unsuitable. A trade in August 2015 resulted in the a loss to the account.” The customer is seeking $121,672 in damages and the case is currently pending.
- August 2016. “Client alleges that the Advisor on her advisory account is making transactions without authorization and concerned where the funds went after a trade in Aug 2015.” The customer sought $100,000 in damages and the case was settled for $38,000.
- November 2015. “Client alleges that Advisor failed to place a stop loss order on the strategy implemented in the advisory account, which client claims caused a loss in the account.” The customer is seeking $107,000 in damages and the case is currently pending.
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, Allegis Investment Services, LLC may be liable for investment or other losses suffered by Sorensen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.