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Former DFPG Investments, Inc. Broker Brett Ellen Investment Loss Options

Posted on Monday, September 13th, 2021 at 9:25 pm    

DFPG Investments

Erez Law is currently investigating former DFPG Investments, Inc. broker Brett Ellen (CRD# 1460478) regarding unsuitable investment recommendations. Ellen has been registered with Metric Financial Inc. in Las Vegas, Nevada since April 2021. Previously, Ellen was registered with Arque Capital, Ltd. in Las Vegas, Nevada from June 2020 to February 2021, with International Assets Advisory, LLC in Calabasas, California from April to November 2019. Prior to that, Ellen was registered with DFPG Investments, Inc. in Calabasas, California from 2017 to 2018 and with United Planners’ Financial Services Of America A Limited Partner in Calabasas, California from 2014 to 2017.

Ellen has been the subject of 15 customer complaints between 1995 and 2021, six of which were denied and four were closed without action, according to his CRD report. The most recent complaints are regarding:

April 2021. “Customer alleges breach of fiduciary duty, unsuitable recommendation, material misrepresentations and omitted material information, failure to supervise, and breach of contract related to an alternative investment.” The customer is seeking $500,000 in damages and the case is currently pending. The complaint was regarding direct investments and took place while Ellen was registered with DFPG Investments, Inc.

September 2020. “Client alleges a sale of an unsuitable and high-risk investment, specifically private placement investments on two dates, December 24, 2015, and September 15, 2016.” The customer is seeking $132,396 in damages and the case is currently pending. The complaint was regarding private placements and took place while Ellen was registered with United Planners’ Financial Services Of America A Limited Partner.

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, DFPG Investments, Inc. may be liable for investment or other losses suffered by Ellen’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.