Erez Law is currently investigating former First Allied Securities, Inc. broker Mark Gillelen (CRD# 1868626), who is accused of unsuitable investment recommendations. He has been registered with LPL Financial LLC in Redwood City, California, since 2021. Previously, he was registered with Cetera Investment Advisers LLC in Redwood Shores, California, from 2020 to 2021, and with First Allied Securities, Inc. in Redwood Shores, California, from 2012 to 2021.
Mark Gillelen Customer Complaints
He has been the subject of five customer complaints between 2008 and 2023, according to his CRD report. The most recent complaint was regarding:
March 2023. “Claimants allege representative made unsuitable investment recommendations during the period of January 2018 to June 2021.” The case is currently pending. The complaint took place while he was registered with First Allied Securities, Inc., and it was regarding variable annuities and alternative investments.
Past customer complaints were related to unsuitable investment recommendations, misrepresentation, and unauthorized trading.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, First Allied Securities, Inc. may be liable for investment or other losses suffered by Mark Gillelen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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