Discharged First Allied Securities Broker, Terry Anderson, Has Six Customer Complaints Disclosed On His CRD
Terry Anderson (CRD # 2374045) was a Financial Advisor at First Allied Securities in Parker, Colorado. In February 2020, Terry Anderson was terminated by First Allied Securities for “
Failure to report a customer complaint and attempting to settle the complaint directly with the customer.” Terry Anderson has been in the securities industry since 1994 and previously worked at International Assets Advisory and JW Cole Financial.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Terry Anderson has been the subject of six customer complaints during his career, including one pending complaint. Two of the complaints were subsequently withdrawn. Among the customer complaints against Terry Anderson including the following:
• March 2020—”Client alleges that advisor failed to invest his money.” Alleged damages are unspecified.
• September 2010—”CLIENT ALLEGES THAT THEY WERE SEEKING CAPITAL PRESERVATION AND THE REPRESENTATIVE PUT THE CLIENT INTO A PRODUCT THAT DID NOT MEET THE CLIENT’S NEEDS. THE CLIENT CLAIMS THE REPRESENTATIVE AND SAI ARE RESPONSIBLE FOR THE LOSSES DUE TO NEGLIGENCE AND BREACH OF FIDUCIARY RESPONSIBILITY.” The matter was settled for $27,468.
• July 2010—”CLAIMANTS ALLEGE THAT PROVIDENT SHALE AND MEDICAL CAPITAL INVESTMENTS WERE FRAUDULENT. ALLEGATIONS INCLUDE NEGLIGENCE, BREACH OF FIDUCIARY DUTY, BREACH OF CONTRACT, MISREPRESENTATION, UNSUITABILITY.” The matter was settled for $626,661.
• April 2010—”IN CONNECTION WITH THE RECOMMENDATION AND SALE OF MEDICAL CAPITAL AND PROVIDENT SHALE, CLAIMANTS ALLEGE UNSUITABILITY, MISREPRESENTATION, BREACH OF FIDUCIARY DUTY AND NEGLIGENCE.” The matter was settled for $278,516.
For a copy of Terry Anderson’s CRD, click https://brokercheck.finra.org/individual/summary/2374045#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at mwolper@wolperlawfirm.com.
Recent Posts
- Learn How Due Diligence Regulations Protect Investors Seeking Private Placement Transactions
- Triad Investors LLC, Broker and The Just Company Investment Adviser, Mark Just, Has Six Customer Complaints, Including Complaints For The Sale Of Alternative Investments
- Former Stifel, Nicolaus & Company, Inc. Broker Joseph H. Pratt Barred by FINRA for Insider Trading; Customer Complaint Pending
- Former Dinosaur Financial Group, LLC Broker and Investment Adviser David Karandos Has Six Customer Complaints, Including 3 Pending Complaints Alleging Sales Practice Misconduct
- Former Ameriprise Financial Services Broker and Investment Adviser Angel Bardeche Fined and Suspended After Engaging in Unsuitable Mutual Fund Trading for Clients
- Benjamin F. Edwards and Co., Inc. Broker John Griner Fined and Suspended After Allegedly Improperly Exercising Discretion Without Proper Authorization
- FINRA Reports That Margin Levels in Customer Accounts Have Reached All-Time Highs of More Than $722 Billion
- How to Stop Stock Loss Caused by Your Broker-Dealer
- Former LPL Financial LLC Broker, Maziar Monshi, Has Had Three Customer Complaint Disclosures Alleging Sales Practice Misconduct
- Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker, John Gatto, Has Had Eight Customer Complaint Disclosures Alleging Sales Practice Misconduct