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Howard Allen, III Formerly of Portfolio Advisors Alliance, LLC Has 6 Customer Complaints For Alleged Broker Misconduct

Who is Howard Allen III Formerly of Portfolio Advisors Alliance, LLC?

Howard Allen, III (CRD #2033586) who was formerly registered with Portfolio Advisors Alliance, LLC and located in New York, New York, is a subject of one of our many securities industry sales practice abuse investigations.  Prior to Portfolio Advisors Alliance, LLC, Howard Allen, III was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Howard Allen has had his own share of regulatory problems. The SEC filed suit for violation of the federal securities laws and a jury found him liable. As a result, he was permanently barred from the securities industry. Further, at least 4 states barred and/or suspended him.

Howard Allen III Customer Complaints

Howard Allen, III has been the subject of 6 customer complaints that we know about to recover investment losses. One customer complaint resulted in an arbitration award in favor of the investor in the amount of over $551,000.Three customer complaints were settled by Sands Brother’s in favor of the investors. One customer complaint was denied and, to date, the customer has not taken any action. There is currently one pending arbitration proceeding filed against Howard to Allen’s employer Portfolio Advisors Alliance.

Allegations Against Howard Allen III

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

  • Unauthorized trading, fraud, misrepresentation, negligence, and breach of fiduciary duty related to common and preferred stock transactions.
  • Unauthorized trading and failure to enter stop loss order.
  • Excessive trading, unsuitability, and unauthorized trading.
  • Unauthorized purchase of Entrust securities.
  • Unauthorized purchase of Advanced Fibre Communications stock.
  • Churning and unauthorized trading.

Howard Allen III Red Flags & Your Rights As An Investor

Of course, Howard Allen, III 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 which should put all current and former customers of Howard Allen, III at Portfolio Advisors Alliance, LLC on alert to review carefully the activity and performance of their accounts and question whether Howard Allen, III has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Portfolio Advisors Alliance, LLC also raises questions about the brokerage firm’s 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 Portfolio Advisors Alliance, LLC Due To Howard Allen, III

If you have questions about Portfolio Advisors Alliance, LLC and/or Howard Allen, III 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 $160 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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