stock-exchange-dataThe securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Austin-based VSR Financial broker Mikiel “Mike” Featherston.

Mikiel “Mike” Featherston has spent twenty-six 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 (2002); New England Securities in New York, New York (1997-2001); and Princor Financial Services Corporation (1988-1996). He is registered in eight US states, including California, Minnesota, Ohio, South Carolina, and Texas.

According to his BrokerCheck report, Mikiel “Mike” Featherston is the subject of one customer complaint related to his time at VSR Financial Services.

In 2013 a customer alleged Mikiel “Mike” Featherston, while employed at VSR Financial Services, made unsuitable investment recommendations, breached contract, and acted negligently. The allegations pertain to investments in Direct Participation Program and Limited Partnership interests as well as real estate securities. The activities in question date from November 2007 to February 2008. The complaint settled in 2014 for $14,999, to which Mr. Featherston individually contributed $5,000.

FINRA rules and federal securities law provide that brokers like Mikiel “Mike” Featherston have a duty to recommend only investments that are suitable for their clients. They must consider such factors as age, investment experience, investment goals, income, net worth, and risk tolerance. They may not omit or misrepresent material facts pertaining to the product in a manner that might lead clients to make unsuitable investments. Brokerage firms, meanwhile, have a supervisory duty to ensure that their brokers comply with these regulations. Brokers and firms who engage in misrepresentation and/or unsuitability may be subject to disciplinary action.

If you have lost money investing with Mikiel “Mike” Featherston or VSR Financial Services, you may be qualified to recover your losses. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. Since all cases are taken on contingency, we only get paid if and when you recover 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.