Former American Portfolios Financial Services, Inc. broker Robert Halldin (CRD# 1458098) faces multiple customer complaints for investment losses. Halldin was registered with American Portfolios Financial Services, Inc. in Newington, Connecticut from 2012 to 2017.
In December 2020, FINRA barred Halldin after he, “consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony requested by FINRA as a part of an investigation that originated from its review of a series of Form U5 amendments filed by his former member firm. The findings stated that the Form U5s disclosed complaints and arbitrations filed against Halldin alleging that he traded securities in individuals’ brokerage accounts held away from the firm.”
Halldin has been the subject of three customer complaints between 2016 and 2019, according to his CRD report:
- April 2019. “Breach of fiduciary duty, violation of Florida Securities Investor Protection Act, negligence, failure to supervise.” The customer is seeking $2,200,000 in damages and the case is currently pending.
- January 2018. “On or about 9/5/2014 until on or about 9/2017 the allegations are that the representative made unsuitable investments in accounts held away from the firm.” The customer sought $106,739 in damages and the case was settled for $47,500. The complaint was regarding exchange traded funds (ETFs).
- May 2016. “Churning, unsuitable investments, unauthorized trading, overconcentration.” The customer sought $751,414 in damages and the case was settled for $400,000. The complaint was regarding ETFs, equity OTC, and common and preferred stocks.
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, FIRM may be liable for investment or other losses suffered by Halldin’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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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 below for a free consultation.
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