Austin Dutton (CRD #: 2739167), a broker registered with American Trust Investment Services and a previously registered investment adviser, is facing allegations that he made unsuitable investment recommendations and misrepresented certain securities, according to his BrokerCheck report, accessed on August 26, 2020. These are only the latest in a long list of settled client disputes.
On June 8, 2020, a client alleged that Austin Dutton recommended unsuitable investment recommendations. The dispute is pending.
On January 14, 2020, a client alleged that Mr. Dutton was negligent, omitted facts, and made misrepresentations regarding certain investments. The client is seeking $95,000 in damages; the dispute is pending.
On November 30, 2017, a client alleged that Mr. Dutton violated The Pennsylvania Securities Act and The Pennsylvania Unfair Trade Practices and Consumer Protection Act, in addition to federal securities laws. The client sought $350,000; the dispute settled for $15,000.
On July 24, 2017, Austin Dutton entered into a Consent Agreement & Order with the State of Pennsylvania in which he consented to pay an administrative assessment of $200,000. This was following allegations that Mr. Dutton “recommended the purchase of a security to at least one customer without reasonable grounds to believe that the transaction was suitable for the customer.”
There are more than 10 disclosures on Austin Dutton’s record related to unsuitable investment recommendations; they were collectively resolved for approximately $354,750.
There are four disclosures on Austin Dutton’s record in which clients allege that Mr. Dutton misrepresented certain securities and made omissions. These were collectively resolved for approximately $168,499.
Austin Dutton has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in California, New York, and Pennsylvania.
In his 24 years of experience, Austin Dutton has worked at the following firms:
- Primex (CRD #: 29394)
- Sandlapper Wealth Management, LLC (CRD #: 41534)
- Sandlapper Securities LLC (CRD #: 137906)
- Center Street Advisors, Inc (CRD #: 169329)
- Center Street Securities, Inc (CRD #: 26898)
- Newbridge Financial Services Group, Inc. (CRD #: 130814)
- Newbridge Securities Corporation (CRD #: 104065)
- Boenning & Scattergood, Inc (CRD #: 100)
- Ferris, Baker Watts Inc. (CRD #: 100)
- G. Edwards & Sons, Inc. (CRD #: 4)
- Prudential Securities Inc. (CRD #: 7471)
If Austin Dutton was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.