INVESTORS: DFPG Investments broker Joseph Langlois is facing a customer dispute alleging that he recommended unsuitable investments, among other forms of misconduct.
Joseph Langlois (CRD: 4216281) is registered as a broker and investment adviser with DFPG Investments, where he’s been employed since 2015. Previously, Langlois was registered as a broker and investment adviser with First Allied Securities from 2010 until 2015.
Langlois has two disclosures on his BrokerCheck report.
February 2022 Customer Dispute
Allegations: Claimant alleges his financial advisers recommended unsuitable investments. Claimant generally alleges suitability, failure to supervise, negligence, and breach of contract.
Damage Amount Requested: $870,000.00
January 2019 Customer Dispute
Allegations: Customers allege that the rep misrepresented and sold unsuitable REITs during the years 2013 and 2014.
Settlement Amount: $22,060.11
Broker Comment: After Mr. and Mrs. [REDACTED] moved to a new investment advisor in August of 2018, the clients wanted to liquidate 100% of their non-traded Alternative Investments. When they were reminded that they were unable to, they filed a formal complaint. With our complete file with many years of documentation, we were prepared to vigorously fight the complaint. Our previous Broker Dealer, based on advice from their Internal Accounting and Legal Teams decided that the cost to defend would far outweigh the settlement, and removed us from any communication with the [REDACTED]. After a few months, our previous firm settled with Mr. and Mrs [REDACTED] for $22,060.11.
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