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Robert Buffington Embroiled in a Third Six-Figure Investor Dispute

Nov 26, 2021 Excessive Trading

Robert Buffington (CRD #: 5220332), a former broker previously registered with Aegis Capital, has a pending investor dispute on his record, according to his BrokerCheck record, accessed on November 10, 2021. The investor is seeking six figures — keep reading for more detail. 

On March 9, 2020, an investor alleged that Robert Buffington recommended unsuitable investments. FINRA Rule 2111 describes unsuitable investments as investments that do not take into consideration any of the following elements of the investor’s profile: 

  • Age 
  • Investing experience
  • Liquidity needs
  • Financial goals 
  • Risk tolerance 

Investments that do not take these elements into account may be qualitatively unsuitable. 

Investments may also be quantitatively unsuitable if the broker executes excessive investments, a type of misconduct known as “churning.” Excessive investments incur so many fees that they make it difficult or impossible for the portfolio to generate returns. 

The investor is seeking $642,224; the dispute is pending. 

Previous Investor Disputes

There are three similar settled disputes on Robert Buffington’s record. 

On January 21, 2020, an investor alleged that Robert Buffington recommended unsuitable investments and churned his account. The dispute settled for $335,000. 

On January 17, 2020, an investor alleged that Robert Buffington recommended unsuitable investments and engaged in common law fraud. They further alleged that Robert Buffington churned the account. The dispute settled for $315,000. 

On February 14, 2018, an investor alleged that Robert Buffington engaged in unauthorized trading and recommended unsuitable investments. Brokers must have their investor’s authorization to execute a dispute according to FINRA Rule 2010, which states that brokers must observe high standards of commercial honor. The investor sought $414,805; the dispute settled for $136,982.43. 

Robert Buffington Background Information 

Robert Buffington has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

Buffington has worked with the following firms:

  • Aegis Capital Corp (CRD #: 15007)
  • Gunnallen Financial (CRD #: 17609)
  • Maxim Group (CRD #: 120708)
  • Gunnallen Financial (CRD #: 17609) 
  • Bear Stearns & Co. (CRD #: 79) 

Kurta Law Can Help

If you worked with Robert Buffington and you 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 for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and 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.