Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on July 18, 2016 indicate that Colorado-based Stifel Nicolaus & Company broker/adviser Barry Bruner has received resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Bruner (CRD# 1565469).
Barry Bruner has spent 29 years in the securities industry and has been registered with Stifel Nicolaus & Company in Denver, Colorado since June 2015. Previous registrations include Wedbush Securities in Denver, Colorado; First Allied Securities in San Diego, California; DE Frey & Company in Denver, Colorado; Wedbush Morgan Securities in Los Angeles, California; BC Christopher Securities, which has since been expelled by FINRA, in Kansas City, Missouri; Graystone Nash; the Stuart-James Company; and Fridlund Securities Company. He is a registered broker and investment adviser with 33 US states and territories.
According to his BrokerCheck report, Barry Bruner has received one customer complaint and one pending customer complaint.
In August 2015, a customer alleged Barry Bruner, while employed at Wedbush Securities, executed unauthorized transactions and “mishandled the clients’ investments by making unsuitable investments in speculative securities with the promise of low-risk and quick returns.” The complaint settled in April 2016 for $31,500, to which Mr. Bruner individually contributed $23,625.
In 2014, a customer alleged Barry Bruner, while employed at Wedbush Securities, recommended unsuitable investments in a non-traded real estate investment trust. The customer is seeking $10,728 in damages in the pending complaint.
A real estate investment trust, or REIT, is an entity that owns assorted forms of real estate, or interests in real estate. As an investment product, REITs use the combined funds from a pool of investors to purchase real estate property; they can be publicly traded or privately held, traded on the stock market or not traded at all. As such, they are highly illiquid investments. While they have the benefit of extending new opportunities to investors who otherwise could not access certain real estate investments, non-traded REITs may be particularly risky for short-term investors and even long-term investors. They are additionally taxed on an individual level and can lead to property taxes as high as 25% of the sum operating expenses. Investment professionals who recommend unsuitable REITs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you have lost money investing with Barry Bruner, you may be able to collect a recovery. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.