Peiffer Wolf is currently investigating claims against John Dobbertin, a registered broker at Lexington Financial Group and American Portfolios Financial in Fayetteville, NY.

According to FINRA’s BrokerCheck website for Public Disclosures, John Dobbertin has been the subject of three disclosures. Some of the more notable disclosures are as follows:

2009: Employment Separation After Allegations – LPL Financial permitted Dobbertin to resign after alleging that he was “not following LPL policies and procedures relative to processing variable annuity transactions.” 

2010: Criminal Charges – Repeated Failure to File Tax – Reduced to Criminal Tax Fraud in the 5th 

2014: Regulatory – FINRA suspended Dobbertin for six months and imposed a Civil and Administrative Penalty of $5,000 over allegations of not properly disclosing that “he had been charged with a felony offense” and not properly disclosing that he had “two unsatisfied federal tax liens.”

To review John Dobbertin’s Brokercheck report, click here: https://brokercheck.finra.org/individual/summary/3254308

Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

John Dobbertin has worked at multiple firms over the years, including Lexington Financial Group, American Portfolios Financial Services, LPL Financial Corporation, The Lincoln National Life Insurance Company, and Lincoln Financial Advisors Corporation. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.