Sean Alan Brady, A Former Financial Advisor At First Allied Securities In St. Louis, Was Barred By FINRA
The Wolper Law Firm is currently investigating claims against former First Allied Securities Financial Advisor, Sean Alan Brady, based in St. Louis.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in June 2018, FINRA barred Sean Brady from associating as a Financial Advisor with any FINRA member firm. The regulatory action was initiated in response to alleged sales practice violations committed by Sean Brady.
Currently, Sean Brady has six pending customer complaints where customers have alleged unsuitability and misrepresentation with millions in alleged damages. Among the complaints include the following:
- March 2018—”Claimant alleges that RR misrepresented her net worth, made an unsuitable recommendation, and made misrepresentations and omissions with respect to her investment from 2017.” Alleged damages of $265,000
- March 2018—”Claimant alleges that RR misrepresented her net worth, completed paperwork on her behalf without permission, made an unsuitable recommendation, and made misrepresentations and omissions with respect to her investments from 2012. Alleged damages of $1.36 million.
- March 2018—”Claimant alleges that RR misrepresented his net worth, completed paperwork on his behalf without permission, and made misrepresentations and omissions with respect to his investments from 2012. Alleged damages of $1.56 million.
- March 2018—”Claimants allege that RR misrepresented their net worth, completed paperwork on their behalf without permission, and made misrepresentations and omissions with respect to their investments from 2012.” Alleged damages of $685,000.
Sean Brady was discharged by First Allied Securities in October 2017 for, among other things, falsifying client documents. Brokerage firms are required by regulation to supervise the Financial Advisors they employ. The failure of a brokerage firm to properly supervise its Financial Advisors imposes liability on the brokerage firm for investment losses caused by the Financial Advisor’s misconduct.
If you or someone you know was a customer of Sean Brady at First Allied Securities and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at email@example.com to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.