Allen Soulek Involved in an Investor Dispute

Allen Soulek (CRD #: 1873068), a broker registered with Kovack Securities, is the subject of an investor dispute, according to his BrokerCheck record, accessed on September 26, 2023. If you have questions about his conduct as a broker, keep reading. 

On July 10, 2023, an investor alleged that Allen Soulek did not transfer the full amount of shares into her deceased mother’s new account in 2021 as requested due to a stock split, which allegedly resulted in an estate battle and additional costs. 

The investor sought $72,021.78 and the dispute settled for $59,387.65. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Failing to comply with requests may violate this rule. 

Background Information 

Allen Soulek has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 41 states and is a registered investment adviser in North Dakota and South Dakota. 

During his 31 years of experience, he has registered with 13 firms: 

• Kovack Securities (CRD #: 44848) 
• Schwan Financial Advisors (CRD #: 127313) 
• Cambridge Investment Research (CRD #: 39543) 
• Resource Horizons Group (CRD #: 104368) 
• Waddell & Reed (CRD #: 866) 
• Ameritas Investment Corp (CRD #: 14869) 
• Capital Brokerage Corporation (CRD #: 10465) 
• Primevest Financial Services (CRD #: 15340) 
• Sunpoint Securities (CRD #: 25442) 
• FBS Investment Services (CRD #: 17868) 
• Fortis Investors (CRD #: 421) 
• A.G. Edwards & Sons (CRD #: 4) 
• Piper, Jaffray & Hopwood Incorporated (CRD #: 665) 

Kurta Law Can Help

If you worked with Allen Soulek and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.