American Portfolios Financial Services, Inc. broker Louise Fallica (CRD# 1375433) faces customer complaints for excessive fees and negligence, among other complaints. She has been registered with American Portfolios Financial Services, Inc. in Smithtown, New York, since 2014 and with American Portfolios Advisors, Inc. in Holbrook, New York, since 2018.
Louise Fallica Customer Complaints
She has been the subject of two customer complaints between 2019 and 2022, according to her CRD report:
November 2022. “Claimant alleges she was charged excessive fees over the course of 20 years.” The customer is seeking $210,000 in damages, and the case is currently pending. The complaint took place while he was registered with variable annuities and advisory fees, and it took place while she was registered with American Portfolios Financial Services, Inc.
February 2019. “Client alleges negligence, violation of South Carolina’s “Blue Sky” law, conversion, breach of fiduciary duty, and breach of contract.” The customer sought $258,719.48 in damages, and the case was settled for $115,000. The complaint took place while she was registered with American Portfolios Financial Services, Inc., and it was regarding promissory notes and unregulated securities.
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, American Portfolios Financial Services, Inc. may be liable for investment or other losses suffered by Louise Fallica’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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