Ex-First Allied Securities & LPL Financial Broker Jeffrey Labelle Named in 17 Customer Disputes

Florida Investment Advisor is Now With Kovack Securities & Runs Gulf Coast Wealth Advisors 

Jeffrey Labelle, a registered investment advisor, has been named in 17 customer disputes of which 11 claims were brought over the last two years and are still pending. 

Most recently, Labelle was an LPL Financial broker from 2018 to 2019. Before that, he was a First Allied Securities financial advisor for five years. He also used to be registered with several other firms. In 2020, he joined Kovack Securities and is head of Gulf Coast Wealth Advisors. 

If you are an investor who suffered losses while working with Jeffrey Labelle, please contact us at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com). We have helped thousands of clients to recover damages from their financial advisors and broker-dealers who were responsible.

Ex-Broker Jeffrey Labelle Accused of Unsuitability, Overconcentration, and More 

According to BrokerCheck, here are some of the customer disputes involving Labelle in the past two years: 

  • August 2021: Alleging suitability, breach of fiduciary duty, negligence, and breach of contract, this claimant is requesting $350K in damages.
  • August 2021: This investor contends that Labelle recommended investments that were unsuitable for them. 
  • July 2021: Also alleging unsuitability, these claimants are making the contentions of due diligence and supervisory failures. They are seeking $100K in damages.
  • July 2021: This investor claim makes similar allegations.
  • June 2021: This is another unsuitability case.
  • May 2021: This claimant says that their account was overconcentrated in alternative investments.
  • November 2020: Seeking damages for unsuitability and other breaches, this investor is requesting $150K in damages.
  • August 2020: This claimant is seeking $175K in damages for allegedly unsuitable investment recommendations made by Labelle.
  • July 2020: This investor makes similar allegations and is pursuing $100K in damages.
  • April 2020: This investment claim has the customer requesting $300K in damages.
  • March 2020: Pursuing losses involving alternative investments, this customer is requesting $100K in damages. 
  • February 2020: A $60K settlement was reached with this investor who alleged unsuitability, failure to supervise, and other claims.

During his 32 years in the industry, Jeffrey Labelle has been registered at over a dozen firms. Aside from LPL Financial and First Allied Securities,  he used to work with Woodbury Financial Services, Next Financial Group, SII Investments, Sentra Securities, among others.

Filing a FINRA Arbitration Claim to Pursue Damages

Investors have six years from the time of the allegations at issue to file an arbitration claim through the Financial Industry Regulatory Authority (FINRA).

Through this process, they can request damages for their losses against their broker-dealers and that should have been properly supervising its financial advisors. This is not the type of case that you want to pursue without knowledgeable securities attorneys. 

Our Florida broker negligence law firm has spent over thirty years representing investors through mediation, litigation, and arbitration. Please contact SSEK Law Firm in Florida at (813) 560-2992. You can also call us throughout the US at (800) 259-9010 today.

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