There are options for customers of First Allied Securities, Inc. broker Robert Weissbein (CRD# 1089065) who suffered investment losses. Weissbein has been registered with First Allied Securities, Inc. in Davie, Florida since 2014. Weissbein has been in the industry since 1983 and was registered with nine previous firms before being registered with First Allied Securities, Inc.
Weissbein has been the subject of two customer complaints between 2017 and 2019, according to his CRD report:
July 2019. “Claimant alleges his former financial advisor recommended investments that were not suitable for him. Claimant generally alleges breach of fiduciary duty and negligence.” The customer is seeking $250,000 in damages and the case is currently pending. The complaint took place while Weissbein was registered with First Allied Securities, Inc. and it is regarding real estate securities.
June 2017. “Claimant alleges that her investment advisor recommended unsuitable investments and failed to disclose risks associated with the investments. Claimants generally allege breach of fiduciary duty, negligence, failure to supervise, breach of contract, and misrepresentation.” The customer sought $90,000 and the case was settled for $20,000. The complaint took place while Weissbein was registered with Capital Guardian, LLC and was regarding direct investments (DPP & LP Interests).
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, First Allied Securities, Inc. may be liable for investment or other losses suffered by Weissbein’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.