Public records published by the Financial Industry Regulatory Authority (FINRA) on June 27, 2016 indicate that Nebraska-based VSR Financial Services broker/adviser Scott Kaup is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Kaup (CRD# 1002907).
Scott Kaup has spent 34 years in the securities industry and has been registered with VSR Financial Services in Stuart, Nebraska since 1989. Previous registrations include American General Securities in Phoenix, Arizona (1987-1989); VSR Financial Services (1984-1987); and St. Paul Investors (1981-1984). He is a registered broker and investment adviser in 26 US states and territories.
According to his BrokerCheck report, Scott Kaup has received one pending customer complaint.
In April 2016, a customer alleged Scott Kaup, while employed at VSR Financial Services, recommended unsuitable investments, breached his fiduciary duty, acted negligently, and committed common law fraud. The customer is seeking damages between $1,000,000 and $5,000,000 in the pending complaint.
FINRA rules as well as federal securities law require that brokers like Scott Kaup recommend only investments that are suitable for their customers. The suitability standard requires financial professionals to consider the client’s age, investment goals, investment experience, risk tolerance, net worth, and many other factors. Brokers may not misrepresent or omit material facts related to an investment, as misrepresentations or omissions might lead a client to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Scott Kaup, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect 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.