January 2020- Greenwood Village, CO
The FINRA records of Robert Edward Burns, a stockbroker employed by Cetera Advisor Networks , disclose a pending customer dispute and a prior customer dispute.
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 August 2018 a customer of Burns’ prior employer ,VSR Financial Services, Inc.; Summit Brokerage Services, was paid $150,000 in FINRA case #18-02447 to resolve allegations that Burns made unsuitable investments in real estate securities and UDF IV.
In pending FINRA case #19-02163, a VSR Financial Services, Inc.; Summit Brokerage Services, customer alleges overconcentration and unsuitable investments in alternative products as well as alleging that the firm failed to do due diligence on the alternative investments and is seeking $500,000 in damages.
For more information regarding the recovery of losses on alternative investments purchased from the now defunct VSR Financial Services, see this.
Burns has been employed by Cetera Advisors since September of 2019. From September of 2016 until September of 2019, he was with Summit Brokerage Services and from September of 2016 until November 2016 he was with VSR Financial Services.
If you have questions about an account handled by Robert Edward Burns Summit Brokerage, VSR Financial or Cetera Advisor Networks call for a no charge consultation to learn more about 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.
Florida-561 391 1900