Articles Tagged with Christopher Coffey

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Coffey (Coffey), previously associated with Allstate Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Coffey recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $125,000.00 on March 27, 2025.

Claimant, age 64, alleges that Respondent and its Financial Advisor, Christopher Coffey, engaged in misconduct resulting in significant financial harm. In 2020, Coffey advised Claimant to liquidate an Athene annuity rather than execute a tax-deferred rollover. This recommendation triggered a taxable event of nearly $80,000 and a withdrawal penalty of approximately $47,000. Coffey allegedly assured Claimant that his investment strategies would offset these losses, a promise Claimant asserts was unrealistic given Coffey’s limited experience.\, \, Claimant alleges continued misconduct by Financial Advisor Christopher Coffey, including unauthorized communications and forged signatures on annuity applications in 2023, despite explicit instructions not to invest in annuities. The annuity provider ultimately reversed the transactions and waived penalties. Coffey was terminated by Respondent and sanctioned by FINRA. However, Claimant asserts that these actions do not remedy the approximately $125,000 in damages stemming from the original Athene annuity liquidation. The claim includes allegations of breach of fiduciary duty, negligence, breach of contract, fraud, misrepresentation, failure to supervise, negligent hiring, unsuitable investment recommendations, and violations of FINRA conduct rules.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Coffey (Coffey), previously associated with Allstate Financial Services, LLC, has at least 3 disclosable events. These events include 2 customer complaints, one regulatory, alleging that Coffey recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on October 29, 2024.

Without admitting or denying the findings, Coffey consented to the sanctions and to the entry of findings that he forged customer signatures on two variable annuity withdrawal forms by attaching an authentic customer signature page from a previous withdrawal form, changing the date, then submitting the new withdrawal form. The findings stated that although Coffey believed he was accommodating the customer’s request, he did not inform the customer before forging her signature and submitting these two new withdrawal forms. The customer received all withdrawn funds, and Coffey was not compensated in connection with either transaction. Furthermore, the withdrawal forms qualify as customer account records. As a result, Coffey caused his member firm to maintain inaccurate books and records.