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Calton & Associates: 6 Customer Complaints, 10 Regulatory Sanctions

Calton & Associates

Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 24, 2019 indicate that Florida-based brokerage and advisory firm Calton & Associates has received customer complaints and regulatory sanctions in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Calton & Associates (CRD# 20999).

Established in Florida in 1987, Calton & Associates is headquartered in Tampa, Florida and registered with 53 US states and territories. Organized as a corporation, the firm’s fiscal year ends in September. According to its BrokerCheck report, Calton & Associates received 6 customer complaints and 10 regulatory sanctions.

In March 2019 the SEC sanctioned Calton & Associates in connection to allegations it breached its fiduciary duty and provided inadequate disclosures relating to its mutual fund share class selection processes, resulting in the firm recommending advisory clients purchase share classes accompanied by certain sales fees when those customers were eligible for lower-cost share classes. In connection with these findings, the firm was censured and ordered to pay disgorgement of more than $178,100.

In 2015 a customer alleged Calton & Associates recommended unsuitable investments and failed in its supervisory duties. The complaint resulted in an award to the customer of $15,425.

In 2009 a customer alleged the firm breached its fiduciary duty, churned investments, made misrepresentations of material facts, and omitted material facts in connection to investments in common stock. The complaint resulted in an award to the customer of more than $607,700.

In 2004 a customer alleged the firm churned investments, executed unauthorized trades, made unsuitable investment recommendations, and breached its fiduciary duty. The complaint resulted in an award to the customer of $76,000.

In 2002 a customer alleged the firm breached its fiduciary duty, made unsuitable investment recommendations, and breached contract. The complaint resulted in an award to the customer of $61,500.

In 1996 a customer alleged the firm misrepresented material facts, omitted material facts, failed in its supervisory duties, and acted negligently in connection to investments in limited partnerships. The complaint resulted in an award to the customer of $118,265.

In 1993 a customer alleged the firm breached its fiduciary duty, made unsuitable investment recommendations, breached its fiduciary duty, and acted negligently. The complaint resulted in an award to the customer of more than $18,200.

In 1993 the Florida Division of Securities and Investor Protection sanctioned the firm in connection to allegations it failed to notify authorities of a representative’s completion of securities business before he received registration. In connection with these findings, the firm was issued a fine of $5,000.

If you or someone you know has complaints regarding Calton & Associates, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.