Category Archives: Ausdal Financial Partners

Steven Stahler-Former VSR Financial Broker-Discloses Numerous Customer Complaints

Baton Rouge, LA

UPDATE December 2016-Publicly available records disclose that in December 2016 a customer of Steven Stahler filed FINRA arbitration #16-3594 alleging damages for unsuitable investments in direct investments, equipment leasing, real estate securities, unit investment trusts and business development companies.

Original Post June 2016– According to FINRA records,  Steven L. Stahler  a stockbroker  who  formerly worked for VSR Financial Services discloses  1 final regulatory event, 11 final customer disputes, one pending customer dispute and one pending judgment/lien.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In a currently pending matter, a customer while Stahler was employed by VSR Financial  Services alleges damages of $793,101 and alleges Stahler failed to diversify investments and was negligent in recommending direct investments in equipment leasing, oil and gas, promissory notes and REITs.

In November 2014, Stahler was suspended and fined by FINRA after being named in a FINRA complaint alleging that he made unsuitable recommendations to four customers. The recommendations were investments in private placements and REITs that were unsuitable for the customers.

Most of the previously resolved customer disputes against Stahler relate to investments made into alternative investments while Stahler was employed by VSR Financial Services. Settlements on those cases range as high as $1.3M.

Stahler was previously  registered with the following firms:

  • Lowell & Company                           8/2012=11/2013
  • Ausdal Financial Partners            12/2011-8/2012
  • Berthel Fisher Financial                 6/2009-12/2011
  • VSR Financial                                        10/1992-6/2009

In July 2013, FINRA fined VSR Financial $550,000 for over concentrating  alternative investments in customer accounts. See this for more information.

We have represented a number of people with claims against VSR Financial Services over during the past several years. Follow this link for more information on our investigation into the sales practices of VSR Financial Services.

If you have questions about an account handled  by Steven Stahler or other VSR FInancial Services broker, call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Ausdal Financial Partners Hit With $1.2M Arbitration Award on Variable Annuity

June 8, 2015-Boston, MA

An all public FINRA arbitration panel ordered Ausdal Financial Partners and broker Joan Norton to pay  a customer over $1.2 million on claims of negligence, unsuitability, breach of fiduciary duty, breach of contract and other claims related to the investment in a variable annuity.

In addition Ausdal Financial and Norton were found jointly and severally liable for costs of over $10,000. FINRA Case No. 14-1552, Cindy-Marie Rogers v Ausdal Financial Partners, Inc. and Joan Norton. 

Ausdal Financial Partners has been a FINRA broker dealer since 1980 and has its main office in Davenport, Iowa.

Variable Annuities– Investment firms offer a wide variety of variable annuities and investors should be aware that they are not all the same. Investors should make certain that they understand the risks associated with the particular variable annuity they are considering.

The Securities and Exchange Commission offers this advice about variable annuities:

“Remember:  Variable annuities are designed to be long-term investments, to meet retirement and other long-range goals. Variable annuities are not suitable for meeting short-term goals because substantial taxes and insurance company charges may apply if you withdraw your money early. Variable annuities also involve investment risks, just as mutual funds do.”

Here is the link to the SEC site on variable annuities.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

VSR Financial Broker Steven Stahler Sanctioned by Regulator

November 4, 2014-Lubbock, Texas 

SEE THIS FOR A JUNE 2016 UPDATE

FINRA entered an Order Accepting Offer of Settlement from VSR Financial broker Steven L. Stahler. Under the terms of the offer Stahler neither admits nor denies the allegations made by FINRA .

In the Order, which can be accessed here, FINRA found that Stahler over concentrated customer accounts in risky alternative investments, including real estate investment trusts (REITs), and private placements.

The concentration levels exceeded the stated risk tolerance of the customers and in some cases the guidelines set forth the the VSR Financial supervisor manuals. Stadler generated large commissions as a result of these sales while the customers lost hundreds of thousands of dollars.

The FINRA sanctions include a $15,000 fine and a six month suspension. FINRA records indicate that Stahler is not currently registered. He was previously  registered with the following firms:

  • Lowell & Company                           8/2012=11/2013
  • Ausdal Financial Partners            12/2011-8/2012
  • Berthel Fisher Financial                 6/2009-12/2011
  • VSR Financial                                        10/1992-6/2009

In July 2013, FINRA fined VSR Financial $550,000 for over concentrating  alternative investments in customer accounts. See this for more information.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

VSR Financial Broker Steven Stahler Named in Regulatory Action

On August 27, 2014, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Steven L. Stahler for making unsuitable recommendations to four customers. The complaint alleges that Stahler, while employed with VSR Financial Services, sold customers high concentration levels of private placements and real estate investment trusts exposing them to risk of loss far beyond their stated risk tolerance and investment objectives.

Stahler made $165,000 in net commissions on the unsuitable sales and misrepresented the risk by telling the customers that the investments were only moderately risky.

Stahler is not currently registered. Since leaving VSR financial in June 2009, Stahler has been with three other broker dealers:

  • Berthel Fisher & Co.
  • Ausdal Financial Partners
  • Lowell & Company, Inc. 

The REITs and private placements sold by Stahler & VSR include the following:

  • AmREIT Monthly Income & Growth Fund
  • Arciterra Whitefish Opp Fund
  • Arciterra Real Estate Inv. Trust
  • Atlas Resource Public #17-2008
  • Behringer Harvard Opp REIT I
  • Bradford Drilling Assoc.
  • Cole Credit Prop. Trust II
  • CNL Income Fund
  • Cypress Equipment Fund XII
  • Cypress Growth Fund
  • Cypress Income V
  • Florida Capital Real Estate Partners
  • Icon Leasing Fund Eleven
  • Inland American REIT
  • KBS Real Estate Trust
  • Laeroc Edge Fund
  • Lease Equity Appreciation Fund II
  • LEAF Equipment Leasing Income Fund III
  • LEAF Commercial FInance Fund 8.25% note
  • Mewbourne Energy Partners
  • MPF Income Fund
  • MPF Senior Note Program
  • Odyssey Diversified Notes VII
  • Odyssey Operating Partnership II
  • Odyssey Residential II 9% Notes
  • United Development Funding

In May 2013, FINRA fined VSR Financial $550,000 in connection with the sale of non-conventional investments and private placements.

Rex Securities Law has filed a number of cases against VSR Financial for making unsuitable recommendations to customers. Some of the above cited products were sold to those clients we presently represent.  See this for more information and this and this.

If you had an account with a broker from VSR Financial and have suffered damages as a result of a recommendation to purchase a high concentration of REITs, private placements or other alternative investment, call to learn your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870