Founded in 1987 and headquartered in Tampa, Florida, Calton & Associates is a full-service securities broker-dealer and Registered Investment Adviser with approximately 400 advisors and more than $6B in account assets. The firm serves all 50 states as well as the District of Columbia, Puerto Rico, and the Virgin Islands.
Financial Misconduct at Calton
Calton is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.
With 18 disclosure events (12 regulatory fines and six arbitrations), Calton has a long history of misconduct dating back to 1993. This includes multiple instances of failing to supervise its agents. Brokerage firms that fail to supervise their agents may be liable for investment losses caused by their misconduct.
In October 2015, FINRA barred Calton advisor, Randy Burke, from the industry after he allegedly participated in private securities transactions, soliciting clients to invest in his outside business, Lodge Alaska, without first providing written notice to the firm. He was also alleged to have made material misrepresentations to an elderly purchaser, and misappropriated the funds invested for personal expenses.
In September 2019, former Calton advisor, Chris Kubiak, was sentenced to 30 months in prison after he was convicted of fraud between June 2015 and August 2018, stealing $370,000 from four clients, three of whom were elderly.
In 2021, FINRA censured and fined Calton $250,000 for failing to supervise sales of volatility-linked exchange traded products, resulting in customer losses on transactions that were unsuitable from the start.
Wondering If You Have a Claim? Contact Our Firm Now!
Meyer Wilson reclaimed $350 million for the victims of investment fraud or misconduct. Our attorneys are experienced in going up against large investment firms, and our track record affirms our resources and expertise. Meyer Wilson has represented clients nationwide and internationally, in state and federal courts, and in arbitration through FINRA and the American Arbitration Association (AAA). As an investor, you have a right to recover investments lost through unethical behavior or decisions made against your interests.
If you believe that you have been the victim of investment fraud or have been recommended unsuitable investments, you may have options. Call Meyer Wilson today!
