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Brett Ellen Embroiled in Three Investor Disputes

Mar 15, 2022 Misrepresentation

Brett Ellen (CRD #: 1460478), a broker registered with Metric Financial, is involved in multiple investor disputes, according to his BrokerCheck record, accessed on March 1, 2022. Investors are collectively seeking to recover over $2.5 million.

On November 18, 2021, an investor alleged that Brett Ellen misrepresented information related to alternative investments. Alternative investments always pose high risks for the investor. The investor is seeking $1,940,256; the dispute is pending.

FINRA Rule 2020 requires that brokers accurately represent an investment’s risks and inform investors of any material facts that could affect their decision to invest. Material facts include information related to how long the investor is expected to hold the investment and any tax implications. Stockbrokers sometimes violate FINRA Rule 2020 in an attempt to manipulate their investors.

Unsuitable Investments

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following information:

  • Investor’s age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

On April 6, 2021, an investor alleged that Brett Ellen recommended an unsuitable investment and made misrepresentations. They further alleged a breach of contract related to alternative investments. The investor is seeking $500,000; the dispute is pending.

On September 4, 2020, an investor alleged that Brett Ellen recommended unsuitable investments, specifically private placements. The investor is seeking $132,396; the dispute is pending.

Background Information

Brett Ellen has passed the following exams:

  • 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
  • Series 22 General Securities Representative Examination
  • Series 6 Investment Company Products / Variable Contracts Representative Examination
  • Series 24 General Securities Principal Examination

He is a registered broker in seven states.

Brett Ellen has worked for the following firms:

  • Metric Financial (CRD #: 33324)
  • Arque Capital (CRD #: 121192)
  • American Financial Network Advisory Services (CRD #: 160322)
  • International Assets Advisory (CRD #: 10645)
  • DFPG Investments (CRD #: 155576)
  • United Planners’ Financial Services of America (CRD #: 20804)
  • Securities America Advisors (CRD #: 110518)
  • Securities America (CRD #: 10205)
  • National Planning Corporation (CRD #: 29604)
  • Royal Alliance Associates (CRD #: 23131)
  • NWNL Management Corporation (CRD #: 2882)
  • Integrated Resources Equity Corporation (CRD #: 6403)
  • Christopher Weil & Company (CRD #: 6566)
  • MidAmerican Management Corporation (CRD #: 13302)

Kurta Law Can Help

If you have worked with Brett Ellen and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.