Investment Losses With Donald Allen Blankenship? KlaymanToskes Has Recovery Options
National investment fraud lawyers KlaymanToskes is investigating Donald Allen Blankenship (CRD# 2842335) of The Strategic Financial Alliance, Inc. following a pending Financial Industry Regulatory Authority (FINRA) misconduct investigation of the King of Prussia, Pennsylvania-based broker and advisor.
If you have suffered investment losses with Donald Allen Blankenship while he was affiliated with Independent Financial Group, LLC, Legacy Financial Associates, Inc., and/or The Strategic Financial Alliance’s King of Prussia, PA branch, you are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
Donald Allen Blankenship’s Investigation and Violation of FINRA Rules
According to FINRA Brokercheck, the regulator’s Department of Enforcement opened its investigation of Donald Allen Blankenship on November 2nd, 2022 in which it recommended that disciplinary action be taken against the broker and investment advisor for the following misconduct violations:
- Violation of FINRA Rule 2111 (Suitability) and FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) in that he made unsuitable short-term mutual fund trades and effected transactions in a manner such that customers did not receive the benefit of mutual fund breakpoints.
- Violation of NASD Rule 2510(b) (Discretionary Accounts), with respect to conduct through May 7, 2019, and FINRA Rule 3260(b), with respect to conduct after May 7, 2019, and FINRA Rule 2010 in that he effected mutual fund transactions utilizing discretion without written authorization.
- Violation of FINRA Rule 4511 (General Requirements) and 2010 in that he caused inaccurate books and records by mismarking mutual fund purchases as unsolicited; and violation of FINRA Rule 2010 in that he circumvented firm procedures concerning mutual fund transactions.
Donald Allen Blankenship’s Previous Disciplinary History
According to Blankenship’s FINRA BrokerCheck Report, the regulator’s pending investigation is one of four public disclosures in which the broker has been named.
On October 14th, 2019, Blankenship was discharged from Independent Financial Group, LLC, in King of Prussia, PA following allegations that he was terminated for violation of the firm’s policy with regard to submission of required documents for certain mutual fund transactions and failure to ensure clients were receiving benefit of mutual fund breakpoints.
On May 19th, 2010, Blankenship was permitted to resign from LPL Financial Corp. following allegations that the resignation resulted from “a difference in investing philosophy”
Additionally, Blankenship received a customer complaint in 2010 alleging that he misrepresented the potential returns on a policy.
How Can I Recover My Losses?
Former and current customers of Donald Allen Blankenship, Independent Financial Group, LLC, Legacy Financial Associates, Inc., and/or The Strategic Financial Alliance’s King of Prussia, PA branch, who have experienced significant investment losses are encouraged to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or lklayman@klaymantoskes.com. Consultations are free and confidential.
KlaymanToskes offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you. KlaymanToskes also has the experience and resources to prosecute your case. The firm has recovered over $250 million for investors in FINRA arbitration cases alone.
Important Notice to Customers of The Strategic Financial Alliance
The Strategic Financial Alliance offers a list of their financial advisors through their website: https://www.thesfa.net/wp-content/uploads/2020/06/Reg-Reps-Mailing-List-Website-20200601.pdf
Investors can learn more about their advisor through FINRA BrokerCheck – a free tool provided by the Financial Industry Regulatory Authority that discloses broker’s licensing, employment history, and most importantly, public disclosures. If your broker’s profile has disclosures, KlaymanToskes highly recommends reviewing your accounts for misconduct similar to that alleged in the disclosures.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com
