Robert Luley (CRD #: 4176139), a broker registered with Pruco Securities LLC and an investment adviser registered with Prudential Financial Planning Services, is facing multiple client allegations regarding unsuitable investment recommendations, according to his BrokerCheck record, accessed on August 25, 2020.
On August 17, 2020, a customer alleged that Robert Luley made an unsuitable investment recommendation in GBP securities. The client is seeking $75,000; the dispute is pending.
On July 20, 2020, an investor alleged that Mr. Luley made an unsuitable investment recommendation, also in GBP securities. The client is seeking $70,000; the dispute is pending.
On June 11, 2020, clients alleged that Robert Luley failed to perform his due diligence, recommended unsuitable investments, and misrepresented certain securities. The clients are seeking $250,000; the dispute is pending.
On April 22, 2020, the clients alleged that Mr. Luley failed to perform due diligence and made unsuitable recommendations involving alternative investments.
What’s an alternative investment? FINRA defines alternative investments as investments that are more complicated and generally riskier than traditional investments. These types of investments are best left to experienced investors, and brokers are required to only recommend investments that suit their client’s risk tolerance.
Robert Luley has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, the Series 7 General Securities Representative Examination, and the Series 6 Investment Company Products/ Variable Contracts Representative Examination. He is a registered broker in North Carolina and South Carolina. He is also a registered investment adviser in South Carolina.
In his 18-year career, Robert Luley has worked at the following firms:
- Madison Avenue Securities LLC (CRD #: 23224)
- Allstate Financial Advisors LLC (CRD #: 109524)
- Allstate Financial Services LLC (CRD #: 18272)
- Park Avenue Securities LLC (CRD #: 46173)
- NFP Securities Inc. (CRD #: 42046)
- Securities America, Inc. (CRD #: 10205)
- PFS Investments Inc. (CRD #: 10111)
If Robert Luley was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys at Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.