Advisor Alert: Our Attorneys Are Investigating Robert Michael Alvarez For Investment Fraud
Did You Lose Money Because of Robert Alvarez?
Filed: March 4, 2024
Robert Alvarez currently has one (1) pending customer complaint. Overall, he has been the subject of five (5) customer complaints, one (1) regulatory event, and two (2) termination events. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Robert Michael Alvarez.
Who Is Robert Michael Alvarez?
- Advisor Name: Robert Michael Alvarez
- Aliases: Robert Alvarez
- CRD: 2242198
- Location: Metairie, Louisiana
- Current Employer: Currently Not Registered
- Previous Firms: International Assets Advisory, LLC, LPL Financial LLC, and Ameriprise Financial Services, Inc.
- Number of Known Customer Complaints: 5
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 2
- Can Robert Alvarez Be Sued: Yes, in Private Arbitration
- Can Robert Alvarez’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $500,000
- Highest Settlement: $90,000
If you have suffered investment losses by Robert Alvarez, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a failure to supervise lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Robert Alvarez For Broker Misconduct
As of this publication date, Robert Alvarez has been the subject of 5 customer disputes, 1 regulatory event, and 2 termination events. Let’s review them below.
In April 2023, a FINRA arbitration was filed against or in reference to Robert Alvarez by a customer of International Assets Advisory, LLC alleging breach of contract and warranties, violation of state securities statutes, and vicarious liability. Per the customer, he/she lost over $500,000 because of Mr. Alvarez’s actions. As of this publication date, this claim remains pending.
In July 2021, a FINRA arbitration was filed against or in reference to Robert Alvarez by a customer of International Assets Advisory, LLC alleging unsuitability, common law fraud, breach of contract, and negligent supervision. Per the customer, he/she lost over $5,000 because of Mr. Alvarez’s actions. On September 29, 2022, Mr. Alvarez settled the claim for $90,000, and some or all of this amount may have been paid by Mr. Alvarez’s employer and/or insurance carrier.
In September 2020, the State Of Louisiana initiated a regulatory action against or in reference to Robert Alvarez for violation of Louisiana Insurance Code, title 22, r.s 22:1554 using fraudulent, coercive or dishonest practices or misrepresentation in the conduct of business.
In February 2018, a complaint was filed against or in reference to Robert Alvarez by a customer of International Assets Advisory, LLC alleging unauthorized trading. Per the customer, he/she lost over $5,000 because of Mr. Alvarez’s actions.
In May 2013, LPL Financial LLC terminated Robert Alvarez for not disclosing to the firm’s compliance department during the firm’s new advisor due diligence process that he was currently under suspension at his previous broker-dealer.
In April 2013, Ameriprise Financial Services, Inc. terminated Robert Alvarez upon company determination of policy violations related to a staff member completing the advisor’s 2012 state insurance continuing education requirements. The advisor was permitted to resign on April 19, 2013 following the firm’s findings of violations related to client signatures issues and failure to comply with suspension requirements.
In July 2011, a complaint was filed against or in reference to Robert Alvarez by a customer of Ameriprise Financial Services, Inc. alleging unauthorized trades during April and May 2011. Per the customer, he/she lost over $17,000 because of Mr. Alvarez’s actions.
In June 2006, a complaint was filed against or in reference to Robert Alvarez by a customer of Ameriprise Financial Services, Inc. alleging that when the company moved from a simple IRA plan to a 401k in 2003, the fees were allegedly inappropriate and never fully explained. Per the customer, he/she lost over $9,750 because of Mr. Alvarez’s actions.
How To File A Claim Against Robert Alvarez (previously with International Assets Advisory, LLC, LPL Financial LLC, and Ameriprise Financial Services, Inc.) To Get Your Money Back
If you have questions about Robert Alvarez, International Assets Advisory, LLC, LPL Financial LLC, Ameriprise Financial Services, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.