National investment loss lawyers KlaymanToskes is investigating broker Neil Barney (CRD# 4265082) of Allstate Financial Services after a customer complaint was filed with the Financial Industry Regulatory Authority (“FINRA”), alleging $200,000 in investor damages due to that representative’s failure to inform the customer of the Net Unrealized Appreciation rule of the Internal Revenue Code in 2021, when he recommended that the customer complete a partial transfer of company stock that she held in her Company’s Profit Sharing Plan to an IRA brokerage account.
Because she made a partial transfer of the company stock from her PSP in 2021, and lost the advantages of the NUA rule, the customer alleges she missed out on tax advantages of over $200,000.
According to FINRA BrokerCheck, broker Neil Barney is currently registered with Allstate Financial Services in Draper, UT.
Investors that suffered losses with broker Neil Barney are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
KlaymanToskes is a leading national investment loss law firm that represents the interests of investors throughout the world who have suffered losses due to broker misconduct, investment fraud, and securities violations.
The article linked below contains important information relating to the complaint against broker Neil Barney:
If you suffered losses with broker Neil Barney, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.
The firm has helped recover over $600 million (exclusive of attorneys fees and costs) for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against broker Neil Barney. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
According to FINRA and the SEC, brokerage firms such as Allstate Financial Services are responsible for the supervision of all of the activities of their registered financial advisors. Investors may be entitled to a financial recovery if their firm failed to supervise the representative managing their account, and/or if their financial advisor made unsuitable investment recommendations.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Neil Barney, or have concerns regarding your investment portfolio at Allstate Financial Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation to discuss your recovery options.