The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Texas-based VSR Financial Services broker/adviser Lisa Allen (CRD# 1198978).
Lisa Allen has spent 32 years in the securities industry and has been registered with VSR Financial Services in Austin, Texas since 2002. Previous registrations include Rushmore Securities Corporation in Dallas, Texas (2001-2002); Northstar Securities in Dallas, Texas (2000-2001); Choice Investments in Austin, Texas (1990-2000); Knibbe Financial Group (1985-1990); Investors Brokerage Services (1985-1987); and Underwood Neuhaus & Company (1983-1985). She is a registered broker and investment adviser with 13 US states and territories.
According to her BrokerCheck report, Lisa Allen is the subject of two customer complaints.
In 2013 a customer alleged Lisa Allen, while employed at VSR Financial Services, acted negligently, recommended unsuitable investments, and breached contract. The complaint settled in 2014 for $14,999.
In 1996 a customer alleged Lisa Allen, while employed at Choice Investments, placed her funds in a volatile, high risk mutual fund. The complaint settled in 1997 for $20,000.
FINRA rules and federal securities law require brokers like Lisa Allen to uphold a fiduciary duty that requires them to act only in the best interests of their clients. This means, for instance, that they can only recommend suitable investments that take into account the client’s investment goals, experience, risk tolerance, and other factors. They are not permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate these rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding Lisa Allen, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be able to recover lost funds. Fitapelli Kurta accepts all cases on contingency: we only get paid if and when you collect money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.