Investor Alert > Broker Charles McLean is the Subject of Misrepresentation and Negligence Allegations
Posted Jan 4, 2021
by Alan Rosca

Broker Charles McLean is the Subject of Misrepresentation and Negligence Allegations

Sigma financial broker charles mclean aka chuck mcleanAccording to his FINRA Brokercheck page, broker Charles McLean is subject to a customer dispute disclosure filed on September 3, 2020. The dispute alleges breach of fiduciary duty, breach of contract, material misrepresentations, failure to supervise, and negligence in connection with the alternative investments purchased in January 2016. The customer indicated Sigma Financial Corporation as the employing firm when the alleged misconduct occurred, and listed fixed annuity and real estate security as the product types relevant to this dispute. The customer is seeking $191,000 for the alleged damages.

Investor rights attorney Alan Rosca of the Rosca Scarlato LLC law firm is investigating the alleged broker misconduct of Charles Logan McLean aka Chuck Logan McLean involving  misrepresentation and negligence, among others. Investors who are concerned about their investments with Charles McLean are encouraged to contact attorney Alan Rosca for a free case evaluation and discussion of their recovery options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

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What Investors Should Know about Alternative Investments

Alternative investments typically use trading strategies and non-traditional investments to accomplish the fund’s objectives. Alternative investments are usually characterized as complex, risky, and offer special features and high returns compared to basic investments. Typically, alternative investments are categorized as any investment made in asset classes other than stocks, bonds, and cash. Alternative investments typically have higher fees that can be as high as 2% of the assets and 20% of all the cumulative profits.

Due to the high risk and complexity that are often a feature of alternative investments, only accredited investors have access to these investments, generally speaking. Alternative investments are typically illiquid, therefore the money invested is usually inaccessible and they usually cannot be readily sold or exchanged for cash without a remarkable loss in value. Alternative investments often expose investors to more risk due to less regulatory scrutiny which often results in less investor protection from potential fraud or other misconduct.

Investors who are concerned about their investments in alternative investment products are encouraged to contact attorney Alan Rosca and his colleagues for a free consultation and discussion of recovery options, or to provide any useful information. Call 888-998-0530, via email at arosca@rscounsel.law, or through the form on this webpage.

Charles McLean Has Been Registered with FINRA Since 2001

According to Chuck McLean’s FINRA Brokercheck page, he has been registered with FINRA for 19 years and switched employers five times. He is currently employed with Sigma Financial Corporation located in McKinney, Texas. McLean has been employed with this firm since April 2009. Mclean is also currently registered as an investment adviser with SPC (also known as Parkland Securities, and Signa Planning Corporation), in McKinney, Texas. According to his Brokercheck and IAPD reports, Charles Logan Mclean has been a licensed registered investment adviser since December 2003, when he passed his Series 66 State Securities Law Exam.

Broker Charles McLean was previously employed with Regions Investment Company located in Birmingham, Alabama from March 2001 until April 2001.  He switched to Morgan Keegan & Company located in Memphis, Tennessee in April 2001 and remained there until June 2004. He then switched to Wachovia Securities Financial Network located in Bossier City, Louisiana in June 2004 and remained there until April 2009.

Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.

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Potential Recovery Options for McLean Investors

Free consultations lawyer for Charles Mclean investor lossesThe Rosca Scarlato LLC law firm represents investors who lose money as a result of broker misconduct and alternative investment-related fraud. We are currently investigating conduct related to Sigma Financial broker Charles McLean’s customer dispute disclosure on the allegations of misrepresentation and negligence.

The firm takes most cases like this on a contingency fee basis and advances the case costs, we only get paid for the fees and costs out of the money we recover for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of investors who fall victim to their unscrupulous broker’s misconduct and violations of sale practices.

Investors who are concerned about their investments with broker Charles McLean’s alleged broker misconduct may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.

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DISCLAIMER

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow matters about which we report, and/or to publish subsequent updates regarding various developments that may occur in such matters. Readers are encouraged to conduct their own research regarding any such matters and any developments that may or may not have occurred in such matters. Also, the Brokercheck report linked to some of our blogs is the up-to-date version as of the date of accessing by the reader. The information in our blogs is current as of the date of the drafting of the blog, and given that sometimes certain past complaints may no longer be listed in newer Brokercheck reports, some of the events referenced in some of our blogs may later on be removed from newer Brokercheck reports. Visitors may check the most recent version of each brokercheck report at www.finra.org, and may contact FINRA for the earlier version of the Brokercheck report upon which various blogs may be based.

If you believe you lost money as a result of investment-related fraud or misconduct, please contact our law firm for a free, no-obligation evaluation of your recovery options.

Contact us at 888‑998‑0530 or through the contact form on this page.
No recovery, no fees.*

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