Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Allen (Allen), previously associated with Woodbury Financial Services, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Allen 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 $100,000.00 on October 22, 2021.
Claimants allege recommendations of certain alternative investments did not meet their needs and objectives; that adequate disclosures regarding the products were not made; and that the firm failed to conduct a diligent review of the product.