Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 25, 2016 indicate that Iowa-based VSR Financial Services broker/adviser Dean Nihart has been the subject of a customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Nihart (CRD# 1121086).
Dean Nihart has spent 33 years in the securities industry and has been registered with VSR Financial Services in West Des Moines, Iowa since 1989. Previous registrations include WS Griffith & Company in Hartford, Connecticut (1987-1989) and Penn Mutual Equity Services (1983-1987). He is a registered broker and investment adviser with 30 US states and territories.
According to his BrokerCheck report, Dean Nihart has received one customer complaint.
In 1992, a customer alleged Dean Nihart, while employed at WS Griffith & Company, sold $42,829.61 worth of unsuitable securities. The complaint settled in 1993 for $17,000.
According to FINRA rules and federal securities law, investment professionals like Dean Nihart must abide by a standard referred to as suitability, which requires them to recommend only investments that are suitable for their clients. Brokers must weigh such factors as the customer’s investment goals, experience, age, income, risk tolerance, and others. They may not misrepresent or omit material facts pertaining to an investment, as misrepresentations or omissions might lead a customer to invest unsuitably. Brokers who fail to recommend suitable investments may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.
If you or someone you know has lost money investing with Dean Nihart, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect 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.