Dennis Ayre (CRD#: 5365176), a registered representative with Hilltop Securities (CRD# 6220) in Beverly Hills, California, is currently embroiled in three customer disputes in which clients are seeking more than $8 million in damages, according to his BrokerCheck record accessed on April 20, 2020.
How did Dennis Ayre become involved in these disputes? On March 11, 2020, Dennis Ayre became involved in three customer disputes:
- In the first complaint, a customer alleged that Dennis Ayre used his personal email to issue a put option to them and guaranteed a return on a portfolio position. These allegations are problematic for a few reasons, not least of which because FINRA’s communication rule requires firms to monitor their broker’s emails. If brokers use their personal emails, firms may not be monitoring their communications. The customer is seeking $814,356 in damages and the dispute is pending.
- In the second complaint, a customer alleged that Dennis Ayre made unsuitable investment recommendations, took excessive risks, and deviated from the investment strategy they had discussed. The customer is seeking $1,472,671 in damages; the dispute is pending.
- A third customer filed a customer complaint against Dennis Ayre, alleging that he took excessive risks, over-concentrated their portfolio, and employed an unsuitable investment strategy. The customer is seeking $6,115,287.00 in damages; the matter is pending.
These three disputes may all be related, given the time of the filing, but Dennis Ayre’s BrokerCheck does not include a Broker Comment. In addition to these three pending customer complaints, Dennis Ayre has also been the subject of one dispute that has since settled. On April 2, 2020, a customer alleged that Dennis Ayre exposed their portfolio to excessive risk. The matter ultimately settled.
In addition to Hilltop Securities (CRD# 6220), Dennis Ayre has also worked for the following broker-dealers:
- Oppenheimer & Co., Inc. (CRD#: 249)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#: 7691)
- Wells Fargo Advisors LLC (19616)
- First Republic Securities Company LLC (CRD#: 105108)
Dennis Ayre is licensed to sell securities in California. He has passed the Series 63 – Uniform Securities Agent State Law Examination, the Series 65 – Uniform Investment Adviser Law Examination, the SIE – Securities Industry Essentials Examination, and the Series 7 – General Securities Representative Examination.
If Dennis Ayre was your broker and you have concerns about your investments, don’t hesitate to contact a securities attorney to learn about your options for recovery. Call (877) 238-4175 or email email@example.com for your free case consultation with the securities attorneys of Fitapelli Kurta.