Brett Ellen Embroiled in Disputes with Investors Seeking Millions in Damages
Brett Ellen (CRD #: 1460478), a broker registered with Metric Financial in Atlanta, Georgia, is facing two investor disputes that allege he recommended risky investments, according to his BrokerCheck record, accessed on January 10, 2022. Ellen has an especially high number of investor disputes – 16 in total. The most recent dispute, filed on November 18, 2021, seeks nearly $2 million in damages.
Investors Seek Millions in Damages
Financial advisors are required to recommend securities that suit their investor’s profile. Investor profiles include factors like age, financial goals, and risk tolerance.
- On April 6, 2021, an investor alleged that Brett Ellen recommended unsuitable investments and made material misrepresentations. They further alleged that Ellen omitted material information and breached his contract related to an alternative investment. Alternative investments always come with a higher degree of risk. The investor is seeking $500,000; the dispute is pending.
- On September 4, 2020, an investor alleged that Brett Ellen recommended unsuitable and high-risk investments, specifically high-risk private placements. The investor is seeking $132,396; the dispute is pending.
- On July 9, 2009, an investor alleged that Brett Ellen engaged in negligence, fraud, misrepresentation, and unlawful business practices. The dispute settled for $250,000.
- On October 6, 2008, an investor alleged that Brett Ellen misrepresented annuities as safe and liquid investments. Annuities often have complex contracts and can come with strict terms that make them illiquid – i.e., difficult to convert into cash. The dispute settled for $14,999.
Currently Registered with Metric Financial
Brett Ellen 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, the Series 22 Direct Participation Programs Representative Examination, the Series 6 Investment Company Products / Variable Contracts Representative Examination, and the Series 24 General Securities Principal Examination. Ellen is a registered broker in California.
Previously Registered with Arque Capital and IAA
During his 34 years of experience, Brett Ellen has worked for the following firms:
- Metric Financial (CRD #: 33324)
- Arque Capital (CRD #: 121192)
- International Assets Advisory (CRD #: 10645)
- DFPG Investments (CRD #: 155576)
- United Planners’ Financial Services of America Limited Partner (CRD #: 20804)
- American Financial Network Advisory Services (CRD #: 160322)
- Securities America Advisors (CRD #: 110518)
- Securities America (CRD #: 10205)
- National Planning Corporation (CRD #: 29604)
- Royal Alliance Associates (CRD #: 23131)
- NWNL (CRD #: 2882)
- Integrated Resources Equity Corporation (CRD #: 6403)
- Christopher Weil & Company (CRD #: 6566)
- MidAmerica Management Corporation (CRD #: 13302)