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Douglas Keith Hyer with First Allied Securities, Inc. Has 4 Customer Complaints for Alleged Broker Misconduct

Who is Douglas K. Hyer with First Allied Securities, Inc.?

Douglas Hyer (CRD #254358) who is currently registered with First Allied Securities, Inc. and located in Great Neck, New York is a subject of one of our many securities industry sales practice abuse investigations.

Prior to First Allied Securities, Inc., Douglas Hyer was associated with 10 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

First Allied Securities, Inc. Broker Misconduct

In his career, Douglas Hyer has been the subject of 4 customer complaints that we know about, one of those complaints were filed in the last 2 years to recover investment losses.

Two of Douglas Hyer’s customer complaints were settled in favor of investors.  The other 2 complaints were denied by Douglas Hyer’s former employers and the customers took no further action

Allegations Against Douglas Hyer

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • Clients in separate customer complaints alleged unsuitable investment recommendations related to mutual fund investments.
  • The claimant alleged that Douglas Hyer made unsuitable investment recommendations and churned his account and further made recommendations to avoid breakpoints and lower the commissions for the customer. 
  • The claimant alleged that the financial advisor recommended unsuitable alternative investments.

Douglas Hyer Red Flags & Your Rights as An Investor

Of course, Douglas Hyer did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags that should put all current and former customers of Douglas Hyer at First Allied Securities, Inc. on alert to review carefully the activity and performance of their accounts and question whether Douglas Hyer has engaged in any stockbroker misconduct that may have caused them investment losses.

The large number of customer complaints at First Allied Securities, Inc. about Douglas Hyer also raises questions about its supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim to Recover Your Investment Losses at First Allied Securities, Inc.  

If you have questions about First Allied Securities, Inc. and/or Douglas Hyer and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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