Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Maloney (Maloney), previously associated with First Allied Securities, INC., has at least 4 disclosable events. These events include 4 customer complaints, alleging that Maloney recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint with a damage request of $50,000.00 on November 22, 2021.
Claimants allege their financial adviser recommended investments that were unsuitable for them. Claimant generally alleges suitability, overconcentration, fiduciary duty, and failure to supervise.