Broker Misconduct Investigation: Austin Dutton Jr. (American Trust Investment Services)

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Updated on: July 25, 2023

If you have investment losses due the actions of Broker Austin Dutton, contact the investment loss attorneys at KlaymanToskes today at +1 (888) 997-9956 or request a free case evaluation to determine if you are eligible for recovery.

National investment loss lawyers KlaymanToskes is investigating Austin Dutton Jr. (CRD# 2739167) of American Trust Investment Services, who is currently facing customer complaints for unsuitable investment recommendations, breach of fiduciary duty, and negligence.

KlaymanToskes is currently representing several customers of Austin Dutton Jr., including firefighters and law enforcement officers who suffered losses at American Trust Investment Services in Philadelphia, PA and surrounding areas. 

According to public record, Dutton has 29 customer complaints, and was previously registered as a broker/investment advisor with American Trust Investment Services from 2020 to 2022 in Whiting, IN and Doylestown, PA.

FINRA has recently suspended Austin Dutton from acting as a broker.

Investors that suffered losses with Austin Dutton Jr. are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at lawrence@klaymantoskes.com for a free consultation to discuss recovery options.

investment losses with broker austin dutton?

Who is Broker Austin Dutton Jr.?

Austin Dutton Jr. (CRD# 2739167is a previously registered broker who is currently facing 29 customer complaints for unsuitable investment recommendations, breach of fiduciary duty, and negligence. FINRA has recently suspended Austin Dutton from acting as a broker.

Broker Austin Dutton Jr. Indefinitely Suspended by FINRA

Broker Austin Richard Dutton Jr. (CRD# 2739167) of Mechanicsburg, Pennsylvania, has been suspended indefinitely by FINRA according to BrokerCheck records.

Dutton was first registered as a broker with FINRA in 2009 and has since worked for several firms, including Newbridge Securities Corporation, where he was most recently employed.

According to BrokerCheck, Dutton has faced regulatory action twice. In 2017, Stefanie Hamilton, Deputy Chief Counsel for the Pennsylvania Department of Banking and Services, initiated regulatory action against Dutton. She alleged that Dutton had recommended the purchase of a security to at least one customer without reasonable grounds to believe the investment’s suitability for the customer based on their investment objectives, financial situation, and needs, or other information.

As a result, Dutton was ordered to pay an administrative assessment of $200,000 to the Department and his employer, Newbridge Securities, was fined $499,000 for its failure to reasonably supervise the broker/advisor.

In 2021, FINRA initiated a formal investigation of Dutton with its recommendation that disciplinary action be brought against the broker. The agency alleged Dutton had violated FINRA Rules 2111 (requiring that brokers make suitable recommendations to customers based on reasonable diligence); 2010 (“Standards of Commercial Honor and Principles of Trade” rule broadly designed to punish unethical behavior); and 4511 (requiring the making and preserving of books and records for a minimum of six years).

The 2021 investigation is still pending, but in October 2023, FINRA initiated another formal investigation of Dutton. This investigation was triggered by the authority’s allegations that the broker had violated FINRA Rules 8210 and 2010 after failing to timely respond to requests for information and documents. This investigation is also pending.

Dutton’s suspension is effective immediately, and he may not participate in any FINRA-related activities until the issue is resolved.

Current Investigations About Austin Dutton Jr. of American Trust Investment Services That You Should Know as an Investor:

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 articles linked below contain important information relating to KlaymanToskes’ investigations of Austin Dutton Jr.:

If you suffered losses with Austin Dutton Jr. of American Trust Investment Services 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* for investors, and can help you determine if your loss is due to financial advisor misconduct, unsuitable investment advice, and/or other securities violations.

*Exclusive of attorneys fees and costs.

Signs Investors Should Look Out For About Their Brokerage Accounts

As an investor, there are a few signs that you should look out for if you believe you may have a claim against Austin Dutton Jr. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encourage to contact our firm immediately if you have experienced any of the following: 

  • You have substantial losses in your investment accounts
  • You notice unauthorized transactions in your investment accounts
  • Your broker misrepresented investment opportunities, or failed to disclose details about investments
  • You received a call, email, or other communication from your broker’s supervisor or manager regarding your portfolio
  • You filed a complaint with your brokerage firm that has not been resolved
  • Your broker is not returning your calls or emails

Dutton reportedly reached out to retired members of the Philadelphia Fraternal Order of Police and the Philadelphia Firefighters and Paramedics Union, offering them retirement consultation services. While some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship, it is crucial to remember that financial decisions should be based on careful analysis and due diligence. 

Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced 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 Austin Dutton Jr., or have concerns regarding your  investment portfolio at American Trust Investment Services, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.