Allegis Investment Advisors, LLC: Invested Clients Retirement Money into Highly Risky Put Credit Spread “Strategy” Causing Catastrophic Damages

On December 13, 2017, an Arbitrator from the American Arbitration Association rendered an award totaling approximately $1,000,000 against Allegis Investment Advisors, LLC (“Allegis”).  The Arbitrator found that Allegis breached its fiduciary duty by investing clients’ funds into entirely unsuitable, and high risk option strategies.  There will likely be more claims brought against Allegis, as the total amount of potential damages to its clients exceeds $33,000,000.  Allegis is a SEC registered investment advisory firm headquartered in Idaho Falls, ID.  It has approximately $654 million in assets under management, and caters primarily to high net worth individuals. Selling very large numbers of Put options on indexes is an incredibly risky investment strategy. Specifically, the strategy Allegis implemented entailed the collection of a small premium on the Russell 2000 index (“RUT”) – from the option sale – however…

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