Rob Burns of Cetera Advisor Networks Involved in $500,000 Dispute Over Alternative Investments

Rob Burns (CRD#: 4066393), a registered representative with Cetera Advisor Networks in Greenwood Village, Colorado, is currently involved in a pending customer dispute in which a client alleges that Rob Burns overconcentrated their portfolio and recommended unsuitable investments in alternative products, according to Rob Burns’ BrokerCheck record accessed on October 2, 2019. They also alleged that Rob Burns’ firm failed to do proper due diligence regarding the alternative investments. The client, who filed the customer dispute on August 9, 2019, is seeking $500,000 in damages.

Rob BurnsAlso known as private placements, alternative investments are only suitable for a small percentage of investors. “Accredited investors” have a high degree of financial literacy and at least an annual income of $200,000 or more. A problem has arisen, however, because these income and net worth guidelines have not changed since 1983. Thus, many individuals and families qualify as accredited investors based on their income but may find themselves in over their heads when it comes to these investments.

On August 3, 2018, a client alleged that Rob Burns recommended unsuitable investments, acted negligently, and breached his fiduciary duty.

In addition to Cetera Advisor Networks, over his 18 years in the securities industry, Rob Burns has also worked for the following broker-dealers:

  • Summit Brokerage Services, Inc. (CRD#: 34643) of Greenwood Village, Colorado
  • VSR Financial Services, Inc. (CRD#: 14503) of Greenwood Village, Colorado
  • Beck, Inc. (CRD#: 1763) of Greenwood Village, Colorado
  • Charles Schwab & Co., Inc. (CRD#: 5393) of San Francisco, California
  • American Century Investment Services Inc. (CRD#: 17437) of Kansas City, Missouri

If Rob Burns was your broker or if you have questions about alternative investments, don’t hesitate to contact a securities attorney. Call (877) 238-4175 or email info@fkesq.com for your free consultation with the securities attorneys of Fitapelli Kurta.