Andrew Topka, previously registered broker formerly with Kalos Capital is involved in customer disputes over alleged unsuitability

The Securities Lawyers at Halling & Cayo, S.C. are looking into potential claims against Andrew Topka (CRD #5070107) regarding sale of unsuitable securities, omission of material fact, breach of fiduciary duty and failure to supervise. According to public records, there are 4 recent allegations against Andrew Topka relating to these matters. This broker was also with Berthel, Fisher & Company from 2006-2014.

Andrew Topka has 4 customer disputes, here are the 3 most recent claims as of April 2022

Claim 1: February 2022

Status: Pending

Allegations: The claimant alleges the sale of unsuitable securities, omission of material fact, breach of fiduciary duty, and failure to supervise.

Damage Amount Requested: $297,500.00

Claim 2: December 2020

Status: Settled

Allegations: The claimant alleges breach of fiduciary duty, suitability, overconcentration in alternative investments, and failure to supervise.

Damage Amount Requested: $718,000.00

Settlement Amount: $152,923.00

Claim 3: May 2020

Status: Settled

Allegations: The claimant alleges that the broker failed to conduct reasonable due diligence and recommended unsuitable securities, specifically, GPB Capital Holdings.

Damage Amount Requested: $300,000.00

Settlement Amount: $45,128.00

If you were a client of Andrew Topka and Kalos Capital and lost money in your account, we are interested in discussing a potential claim with you. Brokerage firms like Kalos Capital have a responsibility to supervise all representatives who are registered through their firm.  (See our video “Warning signs of a bad financial advisor”). Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. The brokerage firm is not only legally responsible for the acts of its agents, like Andrew Topka, Kalos Capital may also be liable for investment losses sustained by customers for a failure to supervise. The Securities Lawyers at Halling & Cayo, S.C. have recovered millions of dollars for investors across the country. (See our video “Do I need a lawyer for my FINRA Arbitration?”). Reviewing FINRA’s Broker Check, there have been 4 complaints against Andrew Topka and Kalos Capital has paid a total of $212,551 to settle those claims.

Despite some volatility surrounding Covid, the S&P 500 has gained an average of more than 19% annual returns since 2019 and yet some investors, put into overly risky trading strategies, often despite promises of guaranteed returns, have lost significant sums. The Securities Lawyers are looking to bring claims on behalf of individual(s) and/or a group of investors for recovery of their funds. Most customers will have signed a FINRA arbitration agreement to resolve disputes, including claims for reimbursement of these types of investment losses. As the SEC reminds investors, it can be important to find an attorney that “specializes in resolving securities complaints.”

If you were a customer of Andrew Topka and Kalos Capital and suffered investment losses, please contact the Securities Lawyers. We only get paid if we recover your money. Your claim may be subject to a time limit or statute of limitations, so contact an attorney right away.

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Sean M. Sweeney is a shareholder at Halling and Cayo, a full service law firm in Milwaukee, WI and the head of its Securities Litigation team.

He represents individual and institutional investors in FINRA arbitration and court nationwide. He recovers investment losses from fraud or breach of duty from their broker-dealer.

Contact him at (414) 755-5020 or via e-mail at SMS@hallingcayo.com to see if he can help recover funds.