Investor Alleges Louise Fallica Charged Excessive Fees

Louise Fallica (CRD #: 1375433), a broker registered with American Portfolios Financial Services, allegedly overcharged a client, according to her BrokerCheck record, accessed on January 25, 2023. Investors may have also engaged her services through American Portfolios Advisors. If you have questions about her alleged conduct as a broker, read on.

Investor Disputes

On November 18, 2022, an investor alleged that Louise Fallica charged her excessive fees over 20 years. The client seeks $210,000 in damages in this pending dispute.

In a dispute filed on February 19, 2019, an investor alleged that Louise Fallica engaged in conversion and negligence, breached her contract, and violated the South Carolina Uniform Securities Act. The client sought $258,719.48 in damages and received a settlement of $115,000.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 2150

FINRA Rule 2150 forbids brokers from misusing or misappropriating investors’ funds.

What is broker negligence?

Many types of broker misconduct may qualify as negligence, including unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to supervise other brokers.

Investors who have lost money through broker negligence may be able to recover their funds by pursuing FINRA arbitration.

What are blue sky laws?

Blue sky laws like the South Carolina Uniform Securities Act establish state-level protections against securities fraud. These laws may also establish what products qualify as securities in a state.

Background Information

Louise Fallica has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Louise Fallica is a registered broker in 15 states and the District of Columbia. She is also a registered investment adviser in New York, North Carolina, and Vermont.

She has also worked for the following firms:

• Professional Planning Services (CRD#:152702)
• Securities Service Network (CRD#:13318)
• Securities America (CRD#:10205)
• New England Securities (CRD#:615)
• Source Securities (CRD#:8026)
• Securities Network (CRD#:8671)

Kurta Law Can Help

If you worked with Louise Fallica and you 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 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.