The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding the Iowa-based brokerage and advisory firm Ausdal Financial Partners, Incorporated (CRD# 7995).
Ausdal Financial Partners is an independent broker-dealer and investment adviser registered in fifty-two US states and territories. Ausdal is based in Davenport, Iowa; Robert Burns Ausdal Jr. serves as its President, Director, Chief Financial Officer, Financial and Operations Principal, and Chief Compliance Officer. John Bryan Hicks serves as Vice President; Thomas Arthur Hopkins serves as Chairman of the Board.
According to its BrokerCheck report, Ausdal Financial Partners is the subject of one regulatory sanction and one customer complaint.
In 2012 Ausdal Financial Partners was sanctioned by the Financial Industry Regulatory Authority (FINRA) following allegations that it violated federal securities law by failing to retain email correspondence related to its activities as a broker-dealer between October 2008 and June 2011. Ausdal Financial Partners was censured by FINRA and issued a penalty of $25,000.
In 2014 a customer alleged Ausdal Financial Partners made unsuitable investment recommendations and engaged in breach of fiduciary duty, breach of contract, negligence, and failure to supervise. The allegations related to an investment in variable annuities. The complaint resulted in a $1,250,762.67 award to the customer.
Stephen B. Sawtelle, one of Ausdal Financial Partners’ directors, is also the subject of a customer complaint. In 1997 a customer alleged Mr. Sawtelle, then employed as a broker at Waddel & Reed, forged her signature on two forms, authorizing an exchange of funds without the customer’s knowledge or consent. The complaint settled for $3,000.
If you or someone you know has a complaint regarding Ausdal Financial Partners, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you recover money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.