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Lance Harshbarger Has Complaints Regarding Real Estate Securities

Lance HarshbargerPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 17, 2016 indicate that Kansas-based Securities America broker/adviser Lance Harshbarger has received resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Harshbarger (CRD# 3059198).

Lance Harshbarger has spent 18 years in the securities industry and has been registered with Securities America in Overland Park, Kansas since 2014. He was previously registered with Sunset Financial Serviecs in Overland Park, Kansas (1998-2014). He is a registered broker and investment adviser with 14 US states and territories: Arizona, Arkansas, Colorado, Florida, Hawaii, Illinois, Iowa, Kansas, Louisiana, Missouri, Nebraska, Oklahoma, Tennessee, and Texas.

According to his BrokerCheck report, Lance Harshbarger has received one customer complaint and one pending customer complaint.

In August 2015, a customer alleged Lance Harshbarger, while employed at Sunset Financial Services, breached his fiduciary duty and acted negligently in connection to the sale of a real estate investment trust investment. The complaint settled in May 2016 for $10,000, to which Mr. Harshbarger individually contributed $2,000.

In June 2016, a customer alleged Lance Harshbarger, while employed at Sunset Financial Services, breached his fiduciary duty, acted negligently, and committed fraud in connection to the sale of real estate securities. The customer is seeking $207,000 in damages in the pending complaint.

A real estate investment trust, or REIT, is an entity that owns assorted forms of real estate, or interests in real estate. As an investment product, REITs use the combined funds from a pool of investors to purchase real estate property; they can be publicly traded or privately held, traded on the stock market or not traded at all. As such, they are highly illiquid investments. While they have the benefit of extending new opportunities to investors who otherwise could not access certain real estate investments, non-traded REITs may be particularly risky for short-term investors and even long-term investors. They are additionally taxed on an individual level and can lead to property taxes as high as 25% of the sum operating expenses. Investment professionals who recommend unsuitable REITs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you or someone you know has complaints regarding Lance Harshbarger, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on contingency: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.