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Michael Patrick Maloney Formerly With First Allied Securities, Inc. Has 3 Customer Complaints For Alleged Broker Misconduct

Who is Michael P. Maloney formerly with First Allied Securities, Inc.?

Michael Maloney (CRD #2371261) who was formerly registered with First Allied Securities, Inc. and located in Surprise, Arizona is a subject of one of our many securities industry sales practice abuse investigations. Prior to First Allied Securities, Inc., Michael Maloney was associated with 5 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, Michael Maloney has been the subject of 3 customer complaints that we know about, one of those complaints were filed in the last year to recover investment losses. One of Michael Maloney’s 3 customer complaints was settled in favor of investors. There are currently 2 pending customer complaints, one of which was an arbitration claim filed against Michael Maloney’s former employer First Allied Securities, Inc. for investment losses caused by his alleged misconduct and the other is a court proceeding involving a Multi-Financial Securities Corporation insurance matter. 

Allegations Against Michael Maloney  

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

  • Claimant alleged Michael Maloney committed negligence, misrepresentation, fraud in connection with the offer and sale of three ING variable annuities.
  • Claimants alleged that their financial advisor Michael Maloney made unsuitable investment recommendations to invest in direct investments in the real estate sector.
  • Plaintiff alleged breach of contract and misrepresentation, as well as breach of fiduciary duty in connection with an insurance policy in the Arizona state courts.

Michael Maloney Red Flags & Your Rights As An Investor

Of course, Michael Maloney 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 Michael Maloney at First Allied Securities, Inc. on alert to review carefully the activity and performance of their accounts and question whether Michael Maloney has engaged in any stockbroker misconduct that may have caused them investment losses. There have been a large number of customer complaints at First Allied Securities, Inc. which 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 Michael Maloney 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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