Can I recover losses from investments with International Assets Advisory, LLC broker Robert Alvarez (CRD# 2242198)?
He has been registered with International Assets Advisory, LLC and International Assets Investment Management, LLC in Metairie, Louisiana, since 2014. Previously, he was registered with LPL Financial LLC in Metairie, Louisiana, from April to May 2013, when he was terminated regarding, “did not disclose to the firm’s compliance department during the firm’s new advisor due diligence process that he was currently under suspension at his previous broker-dealer.”
Prior to then, he was registered with Ameriprise Financial Services, Inc. in Metairie, Louisiana, from 2005 to 2013, when he was terminated regarding, “advisor was suspended on March 28, 2013 upon company determination of policy violations related to a staff member completing the advisor’s 2012 state insurance continuing education requirements. The advisor was permitted to resign on April 19, 2013 following firm’s findings of violations related to client signatures issues and failure to comply with suspension requirements.”
In September 2020, the State of Louisiana opened an investigation allegating, “violation of Louisiana insurance code, title 22, r.s 22:1554 using fraudulent, coercive or dishonest practices or misrepresentation in the conduct of business.” He was sanctioned to pay a $500 civil and administrative penalty.
Robert Alvarez Customer Complaints
He has been the subject of five customer complaints between 2006 and 2023, two of which were denied, and one was closed without action, according to his CRD report. The most recent complaints are regarding:
April 2023. “Breach of contract and warranties, violation of state securities statutes, vicarious liability.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding direct investments, and it took place while he was registered with International Assets Advisory, LLC.
July 2021. “Unsuitability, common law fraud, breach of contract, negligent supervision.” The customer sought $5,000 in damages, and the case was settled for $90,000. The complaint was regarding direct investments, and it took place while he was registered with International Assets Advisory, LLC.
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, International Assets Advisory, LLC may be liable for investment or other losses suffered by Robert Alvarez’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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