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Mickey Long Investigation Update-VSR Financial-Plano, TX

Mickey Long Investigation Update-VSR Financial-Plano, TX 150 150 Rex Securities Law

Plano, Texas

Rex Securities Law is investigating VSR Financial Services broker M. F. (Mickey)  Long  in connection with the sale of fixed annuities,  limited partnerships, direct investments in oil & gas,  and real estate securities.

According to FINRA records Mickey Long has been named in  eight customer disputes that have been resolved, including:

  • FINRA Case 11–01180- customer alleged Mickey Long committed negligence and breach of fiduciary duty related to sale of direct investments and limited partnership investments in oil and gas and real estate. Case was settled for $235,000

There is currently one customer dispute pending against Mickey Long:

  • FINRA Case 15-00957-customer alleges that while employed by VSR Financial Services, Long made unsuitable investments in oil & gas, equipment leasing and real estate limited partnerships and direct investments. Damages alleged are $500,000.

FINRA records report that Mickey Long was recently employed as follows:

  • 8/2007-present                         VSR FInancial Services
  • 6/2002-3/2014                           Personal Wealth Advisors
  • 3/2014-4/2015                          Wealth Preservation Consultants
  • 4/2015-present                          First Financial Services Group

VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

If you have losses in an account in an account handled by Mickey Long or VSR Financial Services , contact us to discuss how you may be able to recover damages for those losses.

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

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