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Former First Allied Securities, Inc. Broker Jeffrey Labelle Real Estate Securities Losses

Posted on Wednesday, January 22nd, 2020 at 4:54 pm    

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Erez Law is currently investigating former First Allied Securities, Inc. broker Jeffrey Labelle (CRD# 1547518) regarding real estate securities losses. Labelle has been registered with LPL Financial LLC in Sarasota, Florida from July 2018 to December 2019. Previously, Labelle was registered with First Allied Securities, Inc. in Sarasota, Florida from 2012 to 2018.

Labelle has been the subject of six customer complaints between 2010 and 2020, one of which was withdrawn, according to his CRD report. The most recent complaint is regarding:

February 2020. “Claimant alleges her financial adviser recommended investments that were not suitable for her. Claimant generally alleges breach of fiduciary duty, breach of contract and negligent supervision.” The customer is seeking $250,000 in this pending complaint.

November 2019. “Claimant alleges her former rep recommended investments that were not suitable for her. Claimant generally alleges unsuitability, breach of fiduciary duty, negligence, breach of contract and failure to supervise.” The customer is seeking $49,000 in this pending complaint.

April 2019. “Claimant alleges his former financial advisor recommended investments that were not suitable for him. Claimant generally alleges breach of fiduciary duty, breach of contract and negligence.” The customer is seeking $110,000 in damages and the case is currently pending. This case was regarding real estate securities and took place while Labelle was registered with First Allied Securities, Inc.

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 Labelle’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.