Coastal Equities Financial Advisor, Robert Mehlin, Jr., Has Three Customer Complaints, Alleging Sales Practice Violations
Robert C Mehlin, Jr. is a Financial Advisor at Coastal Equities in Fairfield, NJ. Robert Mehlin, Jr. has been in the securities industry since 1981 and previously worked at Dolan & Pitcher, Inc., Gibraltar Securities Co., Tucker Anthony Incorporated, RBC Dain Rauscher, Inc., Citigroup Global Markets, Inc., Morgan Stanley and Wells Fargo Advisors Financial Network, LLC.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Robert Mehlin, Jr. has three customer complaint disclosures on his CRD. The allegations include the following sales practice violations:
- January 2012 – “CLAIMANT ALLEGES, INTER ALIA, THAT FROM 2006 TO 2008 THE FA INVESTED THE CLIENT IN UNSUITABLE PORTFOLIOS THAT WERE NOT IN LINE WITH THE CLIENT’S INVESTMENT OBJECTIVES.” The matter settled for $97,500.
- June 2009 – “CLIENT ALLEGES FA PURCHASED STOCK WITHOUT AUTHORIZATION AND THAT IT WAS NOT APPROPRIATE FOR HER INVESTMENT RISKS AND GOALS.”
For a copy of Robert Mehlin, Jr.’s CRD, click https://brokercheck.finra.org/individual/summary/736694#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.
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