Public records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on March 23, 2018 indicate that former Michigan-based HD Vest Investment Services broker/adviser Brian Royster has been sanctioned by FINRA in connection to alleged rule violations and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Royster (CRD# 4766877).
Brian Royster has spent nine years in the securities industry and was most recently registered with HD Vest Investment Services in Ann Arbor, Michigan (2014-2017). Previous registrations include LPL Financial in Ann Arbor, Michigan (2013-2014); Edward Jones in Ann Arbor, Michigan (2010-2013); State Farm VP Management Corporation in Ann Arbor, Michigan (2008-2010); and NYLife Securities in New York, New York (2004-2006). He has passed four securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on May 7, 2010; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on October 10, 2008; Series 7 (General Securities Representative Examination), which he obtained on April 22, 2010; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on October 24, 2008. He is currently not registered with any state or firm.
According to his BrokerCheck report, he has received one FINRA sanction, two customer complaints, and one pending customer complaint, and he was discharged from a former employer in connection to alleged rule violations.
In January 2018 a customer alleged Brian Royster, while employed at HD Vest Investment Services, provided false information to her and her husband, specifically that “they would not be penalized or have to pay back taxes” as a result of rolling over funds from an IRA into another investment. The customer is seeking unspecified damages in the pending complaint.
In November 2017 FINRA sanctioned him in connection to allegations he refused to comply with a request for documents and information connected to FINRA’s investigation into the circumstances of Mr. Royster’s discharge from his former member firm. He was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm.
In January 2017 he was terminated from his position at HD Vest Investment Services in connection to allegations he violated firm policies when he took loans from clients.
In 2017 a customer alleged Brian Royster, while employed at Edward Jones, recommended an unsuitable New York Life annuity purchase. The complaint settled for more than $2,500.
In 2013 a customer alleged Brian Royster, while employed at Edward Jones, misrepresented material facts related to an annuity purchase. The complaint settled for more than $5,400.
If you or someone you know has lost money investing with Brian Royster, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.