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Royal Alliance Associates, Inc.

Background Information

Royal Alliance Associates, Inc. is a broker-dealer based in Jersey City, New Jersey with 3,178 advisors and $103.3 billion total client assets under administration. They are a part of Advisor Group, a network of wealth management firms with more than 7,000 affiliated advisors across the country.

Regulatory Violations

Royal Alliance Associates, Inc. publicly-available FINRA BrokerCheck report has 74 disclosures with 38 regulatory events and 29 arbitration disclosures.

Royal Alliance Customers Awarded $280k By FINRA Arbitration Panel

Requested relief of $500,000, awarded relief of $280,751. In January 2017, two customers filed a statement of claim against Royal Alliance Associates, Inc. asserting breach of contract and warranties, unfair trade and deceptive practices, intentional and negligent misrepresentations of material fact, unjust enrichment, breach of fiduciary duty, gross negligence, unsuitable investment advice, and other causes. The claimants alleged that Royal Alliance and its agents “reallocated Claimants’ assets to a predominantly risky strategy, largely comprised of unspecified junk bonds and leveraged ETFs.” They requested relief of $500,000. May 2017 a FINRA arbitration panel awarded them $280,751, which included compensatory damages, costs, and attorney’s fees.

$2.6 Million Recovered From Royal Alliance Associates After Numerous Allegations

In a claim initiated December 2017, a client of Royal Alliance Associates alleged negligent supervision, violations of the Racketeer Influenced and Corrupt Organizations Act (RICO), common law fraud, breach of contract, conversion, and violations of the New Hampshire Securities Act. The claim was made “related to various securities”. In January of 2019, a FINRA arbitration panel awarded the claimant $2,113,665 in compensatory damages and $500,000 in attorney’s fees.

Silver Law Group

Silver Law Group is a nationally recognized securities and investment fraud law firm with Martindale-Hubbell® Peer Review Ratings™ “AV” rated lawyers that handle all securities arbitration matters on a contingency fee basis. The Law Firm, at no cost to investors will review account activity and account statements to determine whether there was any misconduct, whether there are damages and the legal causes of action. We investigate all sales practice violations, while taking into consideration the investor’s age, investment background, and the relationship between the investor and the brokerage firm and its financial advisor. According to securities industry rules and regulations, unsuitable investment advice, securities concentration, fraudulent misrepresentations and omissions of material facts, breach of fiduciary duty, conflicts of interest, variable annuity switching are among the causes of action that may be available to investors in claims for damages against brokerage firms and their financial advisors in a securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA). We represent investors in FINRA arbitration claims on a contingency fee basis.

To learn more call us Toll Free at (800) 975-4345 or email us at ssilver@silverlaw.com

Client Reviews
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