Mark Chamberlain Subject to Multiple Customer Complaints

The securities attorneys at Gana Weinstein LLP are investigating claims against First Allied Securities, Inc. (First Allied) broker Mark Chamberlain (Chamberlain).  According to BrokerCheck records, Chamberlain has been subject to seven customer complaints and one regulatory action.  The majority of the complaints concern alternative investments and annuities. Most recently, in May 2015, a customer alleged that Chamberlain engaged in unsuitable investments requesting $29,700 in damages. In May 2012, a customer alleged that from October 2009 to May 2011, Chamberlain engaged in breach of fiduciary duty, constructive fraud, and unauthorized transactions. This dispute settled for $13,000. Brokers have a responsibility treat investors fairly which includes obligations such as making only suitable investments for the client. In order to make a suitable recommendation, the broker must meet certain requirements. First, there must be reasonable basis for…

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