Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on October 13, 2016 indicate that former Colorado-based Cetera Advisors broker Ken Balser is currently not affiliated with any broker-dealer firm. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Balser (CRD# 704053).
Ken Balser has spent eleven years in the securities industry and was most recently registered with Cetera Advisors in Colorado Springs, Colorado (2013-2016). Previous registrations include LPL Financial in Colorado Springs, Colorado; Merrill Lynch in Colorado Springs, Colorado; UBS Financial Services in Weehawken, New Jersey; and AG Edwards & Sons in St. Louis, Missouri. He is currently not registered with any state or firm.
According to his BrokerCheck report, Ken Balser was recently discharged from Cetera Advisors.
In July 2016 Ken Balser was terminated from his position at Cetera Advisors following allegations he violated firm policy by participating in private securities transactions.
“Private securities transactions” refers to securities transactions outside the scope of a broker or investment adviser’s employment at his or her member firm, for instance, securities not approved for purchase or sale by that member firm. Such transactions are typically also not included in the firm’s official records. Both FINRA rules and federal securities law forbid selling away: Perhaps the most important regulatory codification with respect to selling away is FINRA Rule 3040, which states that “No person associated with a member shall participate in any manner in a private securities transaction” unless the transaction complies with numerous terms, including written authorization from the member firm. Investment professionals who engage in selling away may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have complaints regarding or have lost money investing with Ken Balser, you may be entitled to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Fitapelli Kurta takes every case on a contingency basis, which means Fitapelli Kurta only gets paid if and when you collect money. By law there may be a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.