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Dalton Strategic Advisor Settles for $90,000

Clarence Smith a Dalton Strategic Advisor received two customer complaints, sold unsuitable investments,
breached his fiduciary duty, acted negligently, and violated the Michigan Uniform Securities Act

DEARBORN, Mich. - Dec. 10, 2018 - PRLog -- Publicly available records provided by the Financial
Industry Regulatory Authority (FINRA) on December 4, 2016 indicate that Michigan-based Securities
America broker Clarence Smith has been the subject of customer complaints. The securities and investment
fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr.
Smith (CRD# 2939228).

Clarence Smith has spent eighteen years in the securities industry and has been registered with Securities
America in Swartz Creek, Michigan since 2014. Previous registrations include Dalton Strategic Investment
Services in Swartz Creek, Michigan; National Planning Corporation in Flint, Michigan; and H. Beck in
Flint, Michigan. He is a registered broker with two US states: Florida and Michigan.

According to his BrokerCheck (http://brokercheck.finra.org/Individual/Summary/2939228) report,

Clarence Smith has received two customer complaints.

In 2015 a customer alleged Clarence Smith, while employed at Dalton Strategic Investments, sold
unsuitable (https://www.stopbrokerfraud.com/suitability-important-inf...) investments, breached his
fiduciary duty (https://www.stopbrokerfraud.com/breach-of-fiduciary-duty....), acted negligently, and
violated the Michigan Uniform Securities Act. The complaint settled in November 2016 for $90,000.

In 2007 a customer alleged Clarence Smith, while employed at H. Beck, recommended he invest in a
mutual fund that lost value. The complaint settled for $8,935.

The Michigan Securities Act

(http://www.legislature.mi.gov/(S(qdsoxpro2tai4gb4syyefq5i))/mileg.aspx?page=getobject&objectna
me=mcl-Act-551-of-2008&query=on&highlight=securities) affords investors a wide array of protections
against broker fraud, including the right to seek the recovery of lost damages. Investors are also protected
by the Corporations, Securities, & Commercial Licensing Bureau,
(http://www.michigan.gov/lara/0,4601,7-154-61343---,00.html) although the bureau has no power to
represent investors in binding arbitration. Only private securities attorneys are able to do that. The Bureau
additionally cannot compel a respondent to return lost funds to an investors; only courts can do that. For
these reasons, aggrieved investors should seek the services of an experienced securities attorney if they
wish to pursue the recovery of damages.

Media Contact
Fitapelli Kurta
***@stopbrokerfraud.com

--- End ---

Source Fitapelli Kurta

City/Town Dearborn
State/Province Michigan
Country United States
Industry Finance
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