Articles Tagged with VSR Financial Services

VOYAAccording to publicly available records released by the Financial Industry Regulatory Authority (FINRA) on November 2, 2016, and accessed on February 3, 2017, FINRA has sanctioned eight broker-dealer firms in connection to alleged sales variable annuity sales violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding the firms in question: VOYA Financial Advisors, Cetera Advisor Networks, Cetera Financial Specialists, First Allied Securities, Summit Brokerage Services, VSR Financial Services, Kestra Investment Services, and FTB Advisors.

FINRA’s release alleges that the firms failed to supervise the sales of variable annuity products. According to the complaint: “The L-share VAs at the heart of this action are complex investment products combining insurance and security features designed for short-term investors willing to pay higher fees in exchange for shorter surrender periods. L-shares also had the potential to pay greater compensation to the firms and registered representatives than more traditional share classes. Each of the firms in this action lacked an adequate system to supervise variable annuities with multiple share classes, and failed to provide its registered representatives and principals with reasonable guidance regarding the narrow class of customers for whom the costs and features of L-share variable annuities were suitable.”

The release goes on to say that the alleged failures were “compounded” when the L-shares were often sold with “complex and expensive guaranteed income and withdrawal riders that provided benefits only over longer holding periods.” VOYA, as well as four Cetera Group firms, allegedly failed to notify red flags of “broad patterns of potentially unsuitable sales of this product combination.”

Scott KaupPublic 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. Continue Reading

John TowersPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 25, 2016 indicate that former Texas-based VSR Financial Services broker John Towers has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Towers (CRD# 700221).

John Towers has spent 43 years in the securities industry and was most recently registered with VSR Financial Services in Plano, Texas (2002-2013). Previous registrations include Rushmore Securities Corporation in Dallas, Texas (2001-2002); Northstar Securities in Dallas, Texas (1998-2001); and Dominion Capital Corporation in Dallas, Texas (1991-1998). Mr. Towers is currently not registered with any state or firm. Continue Reading

James KennedyTexas-based VSR Financial Services broker/adviser James Kennedy is the subject of several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kennedy (CRD# 1961588).

James Kennedy has spent 26 years in the securities industry and has been registered with VSR Financial Services in Eastland, Texas since 1997. Previous registrations included Dominion Capital Corporation in Dallas, Texas (1995-1997); MONY Securities Corporation in New York, New York (1995-1997); MetLife Securities in New York, New York (1989-1995); and Metropolitan Life Insurance Company in New York, New York (1989-1995). He is a registered broker and investment adviser in seventeen US states and territories: Arizona, California, Colorado, the District of Columbia, Florida, Massachusetts, Michigan, Montana, Nevada, New Mexico, New York, Ohio, Oklahoma, Oregon, Texas, Utah, and Washington. Continue Reading

Robert HinzWashington-based VSR Financial Services broker/adviser Robert Hinz is the subject of several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Hinz (CRD# 1026405).

Robert Hinz has spent 33 years in the securities industry and has been registered with VSR Financial Services in Seattle, Washington since 1994. Previous registrations include Princor Financial Services in Des Moines, Iowa (1989-1994); Mutual Benefit Financial Service Company (1988-1989); Princor Financial Services Corporation in Des Moines, Iowa (1986-1988); Sentra Securities Corporation (1985-1986); Private Ledger Financial Services (1985); and Integrated Resources Equity Corporation (1982-1985). He is a registered broker and investment adviser with eleven US states and territories: Alaska, Arizona, California, Hawaii, Kansas, Maryland, Nevada, New York, Oregon, Washington, and Wisconsin. Continue Reading

Robert Wamhoff,Missouri-based VSR broker/adviser Robert Wamhoff is the subject of several customer complaints. The securities and investment fraud law firm Fitapelli Kurta is investigating allegations of misconduct against Mr. Wamhoff (CRD# 2082701).

Robert Wamhoff has spent 25 years in the securities industry and has been registered with VSR Financial Services in Saint Charles, Missouri since 2005. Previous registrations include Commonwealth Financial Network in Waltham, Massachusetts (2004-2005) and Mutual Service Corporation in Boston, Massachusetts (1990-2004). He is a registered broker and investment adviser with 33 US states and territories. Continue Reading

Bob HardcastleThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Missouri-based VSR broker/adviser Bob Hardcastle (CRD# 1101791). Mr. Hardcaslt has spent 29 years in the securities industry and has been registered with VSR Financial Services in Chesterfield, Missouri since 2004. Previous registrations include WS Griffith Securities in Hartford, Connecticut (1999-2004); National Securities in Seattle, Washington (1989-2004); Forsyth Securities (1987-1989); Phoenix Equity Planning (1987); and First Alliance Financial Services (1986-1987). He is a registered broker and investment adviser with 24 US states and territories. Continue Reading

Charles ChapmanAccording to records provided by the securities industry, former Texas-based Berthel Fisher broker Charles Chapman is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Chapman (CRD# 3262843).

Charles Chapman has spent thirteen years in the securities industry and was most recently registered with Berthel Fisher & Company Financial Services in Richardson, Texas. He was previously registered with VSR Financial Services in Richardson, Texas (1999-2009). He is currently not registered with any state or firm. Continue Reading

Lisa AllenThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Texas-based VSR Financial Services broker/adviser Lisa Allen (CRD# 1198978).

Lisa Allen has spent 32 years in the securities industry and has been registered with VSR Financial Services in Austin, Texas since 2002. Previous registrations include Rushmore Securities Corporation in Dallas, Texas (2001-2002); Northstar Securities in Dallas, Texas (2000-2001); Choice Investments in Austin, Texas (1990-2000); Knibbe Financial Group (1985-1990); Investors Brokerage Services (1985-1987); and Underwood Neuhaus & Company (1983-1985). She is a registered broker and investment adviser with 13 US states and territories. Continue Reading

iStock_000008431693Medium-300x200According to records provided by the Financial Industry Regulatory Authority, former Louisiana-based VSR broker Gregory Ellis is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ellis (CRD# 4046935).

Gregory Ellis has spent ten years in the securities industry and was most recently registered with VSR Financial Services in Baton Rouge, Louisiana (2000-2010). He was previously registered with HD Vest Investment Services in Irving, Texas (1999-2000). He is currently not registered with any firm or state. Continue Reading