First Standard Financial Co. Financial Advisor, Arthur Coffey, Has 15 Customer Complaints
The Wolper Law Firm is currently investigating claims against Arthur Coffey, a Financial Advisor at First Standard Financial Co. in Miller Place, New York. Arthur Coffey first entered the securities industry in the 1990s and previously worked for Legend Securities, Tryco Securities and Brookville Capital Partners.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Arthur Coffey has fifteen (15) customer complaints, including one pending customer complaint. This is an exceedingly high number of customer complaints to be filed against a single Financial Advisor.
Among the allegations against Arthur Coffey include:
- April 2017—Client alleges “violation of rule 10b-5, fraud, and deceit, misrepresentation, unauthorized unsuitable trading.” Alleged damages are $3.175 million.
- September 2013—Client alleges “unsuitable investment.”
- April 2013—Client alleges “securities fraud, unsuitability, common law fraud…”
- November 2012—Client alleges “excessive and unsuitable trading.”
- November 2011—Client alleges “poor performance and churning.”
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.
If you or someone you know was a customer of Arthur Coffey, and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at firstname.lastname@example.org to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyers 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. His industry insight, experience and knowledge gives his clients a competitive advantage.