Tag Archives: Centaurus Financial complaint

Centaurus Financial, Cetera Financial Group, Stockbroker Malpractice, StockBroker Misconduct, Summit Brokerage Services, Unsuitable Investments

Marco Bartolo Azizi-Centaurus Financial, Inc. Broker-Discloses Pending Customer Disputes- San Jose, CA

January 2020 – San Jose, CA

The FINRA records of Marco Bartolo Azizi, a stockbroker who is currently employed by  Centaurus Financial, Inc., disclose  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.

In 7/2019,  a customer of J.P. Turner and Company / Cetera Financial Group filed FINRA case #19-01990 alleging that Azizi facilitated unsuitable, high-risk and illiquid investments during the period of 2012-2014.  This case is pending and damages will exceed $5,000.

In 10/2018, a customer of Summit Brokerage Services, filed FINRA case #18-03549 alleging unsuitable investments in real estate securities.  The case is still pending.

Marco B.  Azizi has  been employed by Centaurus Financial, Inc. since 7/2016.   He was previously with Summit Brokerage Services, Inc. , J. P. Turner and Company Capital Management and Cetera Investment Advisors.   

If you have questions about an account  handled by Marco Bartolo Azizi  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.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Centaurus Financial, Misrepresentation, Stockbroker Malpractice, Unsuitable Investments, VSR Financial Services

Larry Breen-Former VSR Financial Broker-Subject of $100K Customer Suit-Lake Mary, FL

February 2019 – Lake Mary, FL

The FINRA records of  Lawrence “Larry”  Aloysius Breen III ,  a  stockbroker who was formerly  employed by  VSR Financial Services  discloses a pending 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 7/2018, a customer of Breen’s former employer, VSR Financial Services, filed FINRA Case 18-2544, alleging  that Breen was negligent , made misrepresentations and omitted material facts in connection with a recommendation to purchase a real estate security. The customer seeks damages of $100,000.

Larry Breen was employed by VSR Financial Services from 9/2006-12/2015. He is currently employed by Centaurus Financial in Lake Mary, FL, and discloses an affiliation with Breen Financial Management in Heathrow, FL.

If you have losses in an account in an account handled by Larry Breen or another broker who was employed by VSR Financial Services , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses.

VSR Financial Services Prior Problems With REITs 

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. 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.

 VSR wound down operations at the end of 2016 and transferred most of their brokers and customer accounts to Summit Brokerage Services. See this for more information regarding VSR Financial Services.

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

Centaurus Financial, Failure to Supervise, REITs, StockBroker Misconduct, Unsuitable Investments

Bill Burks-Centaurus Broker-Discloses Pending Customer Dispute-Flower Mound, TX

January 2019, Flower Mound, TX

According to publicly available records William “Bill”  Burks II , (CRD# 2944992) , a  stockbroker who is registered with Centaurus Financial,  discloses a pending customer dispute and 6 prior 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.

In a pending matter, in May 2018 a customer of Centaurus Financial  alleged that  a recommendation made by Burks to invest in a real estate investments was unsuitable and the associated liquidity risks were not fully explained.   The customer seeks damages of $415,000.  

In a prior customer dispute in 2011, a customer of Centaurus Financial alleged that Burks made inappropriate recommendations. To resolve the matter Centaurus cancelled two non publicly traded REIT investments totalling $955,291 and arranged for the reversal of five variable annuity withdrawals of over $1  million. 

Burks has been employed with Centaurus Financial since August 2000.   

If you have losses in an account in an account handled by Bill Burks  contact us for a no charge consultation to learn how you may be able to recover damages from his employer 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Annuities, Centaurus Financial, Discretionary Trading, Failure to Supervise, Stockbroker Malpractice, Trustmont Finanical Group, Unauthorized Trading, Unsuitable Investments

Marc F. Korsch-Centaurus Financial Broker-Customer Awarded Over $1 Million-Sarasota, FL

January 2020-Sarasota, FL

The FINRA records of  Marc F. Korsch ,   a  stockbroker who is employed by  Centaurus Financial  disclose 2 prior 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.

In FINRA arbitration 17-0474, a customer of Mr. Korsch’s former employer, Trustmont Financial Group, alleged damages of $500,000 for the recommendation of transactions that were detrimental to the customer.  A FINRA arbitration panel awarded the customer $843,002 in damages, $100,000 in punitive damages, and attorney fees of $82,500.

Marc Korsch  has been employed by Centaurus Financial since 2/2014.  Prior to that he was employed by Trustmont Finanical Group from 3/2011-3/2014.

If you have losses in an account  handled by Marc F. Korsch , contact us for a no charge consultation to learn how you may be able to recover damages.

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, at no cost to you.

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

Alternative Investments, Centaurus Financial, Failure to Supervise, Limited Partnerships, Oil & Gas Investment, Oil & Gas Master Limited Partnership (MLP), Reg D Offerings(private placements), REITs, Sunset Financial Services, The Leaders Group Inc., Unsuitable Investments

Mark Reinking-Former Leader’s Group Broker-Subject of $1M Customer Suit-Austin, TX

February 2018-Austin, Texas

The FINRA records of  Mark B. Reinking ,  a  stockbroker who is not currently registered with any broker dealer and who was last employed by The Leaders Group Inc. disclose a pending customer arbitraiton complaint.

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 January 2018 a customer of Reinking’s  former employer Sunset Financial Services filed FINRA arbitration case #17-03513 seeking damages of $1 million. The customer alleges breach of fiduciary duty, fraud, breach of contract, negligence in connection with the purchase of various direct investments, including real estate securities.

Reinking’s prior employment includes: The Leader’s Group 3/2015-8/2017; Centaurus Financial 6/2010-3/2013; Sunset Financial Services 11/197-6/2010. Reinking discloses business affiliations with RAM Financial Group (formerly Reinking Asset Management) and Risk Paradigm Group, both of which are located in Austin, TX.

If you have questions about an account handled by Mark Reinking , call to speak with an experienced securities attorney to discuss your options.

Alternative investments include non publicly traded real estate investment trusts (REITS) , equipment leasing partnerships, oil and gas partnerships, hedge funds, real estate, commodities and derivatives contracts and, managed futures. These investments tend to be complex, illiquid, non transparent, 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.

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