First Allied Securities is based out of San Diego, California with branches in Wisconsin, Minnesota, and Michigan and has been the subject of regulatory sanctions and customer complaints including: 

  • Sanctioned by the State of Connecticut for failure to supervise its brokers resulting in trading losses for a client.
  • Sanctioned by FINRA with respect to mutual funds sales and First Allied’s failure to “apply available sales charge waivers.” First Allied estimated that “customers were overcharged by approximate $769,054 for mutual fund purchases.”
  • Sanctioned by FINRA for failure to “maintain a process reasonably designed to supervise its registered representatives’ recommendation of multi-share class variable annuities to its customers.” First Allied was further sanctioned for “failing to ensure suitability in sales of non-traditional etfs, and failed to identify or investigate patterns of non-traditional ETFs held for longer than one day.”
  • Settled a customer dispute regarding alleged misrepresentation regarding surrender period for variable annuity.
  • Settled a customer regarding violation of Wisconsin Uniform Securities act, unsuitable recommendations, and failure to supervise.
  • Customer dispute regarding alleged “churning” of the account. Churning is a practice of making trades solely for the sake of generating commissions.

If you are a customer of First Allied Securities and have suffered losses in your account as a result of misconduct by First Allied or its brokers, you may have a claim to recover your losses. You can learn more about Investment Claims here. We are based out of Milwaukee, Wisconsin but can and have represented investors around the country to recover their lost investment funds. 


Our fee is a percentage of what we actually recover for you. There is no upfront fee.”


Your Claim For Recovery

Your broker has a duty to only recommend investments that are appropriate for you. This is known in the industry as “suitability.” If your broker recommends investments that are not appropriate for you and you lose money as a result, you may have a claim to recover your losses.

Our Fees

For any client with a potential securities claim, we will provide:

  • Free consultation to discuss and review your claim.
  • An explanation of the time, commitment, and process for FINRA arbitration (the most common forum for these claims).
  • WE ONLY GET PAID IF WE WIN. Our fee is a percentage of what we actually recover for you. There is no upfront fee.

We understand that by the time you realize what has happened in your account, the last thing you want to do is throw more money at a lawyer trying to recover what was lost. That is why we work on a contingent fee basis for these claims. This aligns our interests with yours, which is to resolve the matter as quickly as possible for as large of a recovery as possible.

“Atty. Sean Sweeney exhibited a youthful, energetic commitment to my position that was combined with a confident extremely competent grasp of the law in this area. I could not have come up with a better team of advocates at a time when they were needed the most.”

— JIM T.