April 2018–VSR Financial Services closed down its operations in the Fall of 2016. Many of its brokers and clients have been transferred to Summit Brokerage Services, a related entity which is part of the Cetera Financial Group.
See below for discussion of VSR’s regulatory issues related to the sale of real estate investment trusts (REITs), oil and gas partnerships and other alternative investments and how you may be able to recover damages for losses on those investments.
VSR’s Alternative Investment Problem
VSR is well known for its sales of alternative investments such as non-traded REITs, equipment leasing programs, oil & gas drilling programs, promissory notes and commodity funds. In 2013, VSR and its president Donald Beary, were sanctioned by FINRA in connection with the sale of alternative investments. VSR paid a fine of $550,000.
Recovery of Investment Losses On Limited Partnerships and Other Alternative Investments Purchased From VSR Financial
Over the past several years we have represented a considerable number of investors, mostly retirees, who were recommended alternative investments with the promise of steady, dependable income and minimal risk.
If you have suffered losses as a result of investing in alternative investments that were recommended to you by a VSR Financial Services broker (including, but not limited to the following brokers who formerly were employed by VSR) contact us for a no charge consultation to discuss your options:
- Lisa Allen-Austin, TX
- Thomas Bodensteiner-Clear Lake, IA
- Keith Bradley-Houston, TX
- Parks Brown, Jr.-Atlanta, GA
- Kenneth Devane-Tampa, FL
- Charles Geraci-The Woodlands, TX
- Jesse Griffin-Palm City, FL
- Scott Kaup-Stuart, NE
- Mickey Long-Plano, TX
- Kenneth Neuner-Dallas, TX
- John Towers-Plano, TX
- Dennis Van Patter-Plano, TX
- Jay Wallinger-Stuart, NE
- Bob Wamhoff-St. Charles, MO
Time is of the essence, so if you have a claim, you would be wise to pursue it immediately, otherwise valuable legal rights may be lost.
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