July 2021-Denver, CO
According to publicly available records, a broker currently employed by Ameriprise Financial Services, Mark Barrand, discloses 4 settled customer disputes and 2 pending customer disputes.
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.
From August 2010 until February 2021, 3 FINRA cases were filed by customers of Cetera Advisors and a customer of Barrand’s former employer Legacy Financial Services. The claims alleged, among other things, misrepresentation and failure to disclose information, unsuitable investment, breach of fiduciary duty, negligence and fraud. The cases collectively settled for $61,5000.
In February 2021, FINRA case #21-00329 was filed by a customer of Cetera Advisors alleging that their assets were over concentrated in unsuitable and illiquid alternative investments with alleged damages of $100,000. The case is still pending.
In September 2020, FINRA case #20-02959 was filed by another customer of Cetera Advisors, alleging unsuitable investment recommendations in a real estate security. The customer alleges damages of $150,000. This case is still pending.
Barrand has been employed with Ameriprise Financial Services since 2016. Before that time he was with Cetera Advisors and Legacy Advisory Services.
If you have losses in an account handled by Mark Barrand, call to learn how you may be able to recover damages through FINRA arbitration.
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.
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