Yup. We’ve all seen it. Travis Allen is always “Fashionably Late”. Yesterday, he showed up an hour after the Placer Board of Supervisor’s meeting started. He showed up 2 hours late to the Sacramento GOP meeting. He’s shown up 15-45 minutes late to events. He even showed up 15 minutes late to a televised debate in Fresno.
So, why am I not surprised to learn that Travis Allen was forced to settle a claim for $8,000 related to an Annuity he sold that the client had actually decided against taking delivery of?
Wealth Strategies Group (Travis Allen’s Investment Firm) is a representative of and sells securities through Securities America Advisors, Inc. However, Allen and Wealth Strategies Group previously sold securities through Brookstreet Securities Corporation, which collapsed amidst scandal in June 2007 and was later sued by the SEC for high-risk investments to customers with more conservative investment goals.
Travis Allen has had three customer disputes filed against him according to FINRA, including one which claimed the customer was sold a high risk real estate fund;; even though they wanted investments with little risk – this is the same type of activity the SEC investigated Brookstreet over, additionally the complaint shows the actions by Allen took place while he was still working with Brookstreet.
Travis Allen was forced to pay $8,000 to settle another FINRA customer dispute in October 2004 after a customer complaint was also filed against Allen for failure to deliver an annuity policy in a timely manner.
Travis Allen promotes “environmentally responsible” investment strategies – i.e., investments that don’t support companies with irresponsible environmental or social corporate activity and
that promote progressive ideologies. This was according to archives of old websites that were captured. It certainly dovetails with his votes to ban the sale of Rhino Horn and his award from the Sierra Club after he skipped voting on the lead ammo ban.
Having been securities licensed at one point, I know that you have to be a five-star screw up to lose a complaint so bad you have to pay a fine. This complaint was 100% avoidable, but seems to be part of a pattern of poor personal discipline on the part of Travis Allen and would be an opposition researcher’s dream for any opponent of Travis Allen’s.