FINRA has ordered Fifth Third Securities and one of its registered reps, Mark Vernon Rottler (CRD# 2369550), to pay a client for allegedly making unsuitable investments which cost the client over $125,000.
Allegedly, Rottler made unsuitable recommendations of mutual funds, structured products, and equities. The client opened an account with Fifth Third Securities in 2002, which included two IRAs. In 2012, the client discovered 40% of his portfolio was invested in gold and precious metals which was not a good allocation for IRA funds which lost $88,000.
Also Rottler allegedly recommended a private placement for his client in which he lost the entire $125,000 investment.
According to FINRA's BrokerCheck, Mark Vernon Rottler has been registered in the securities industry for 20 years and is currently registered with the following securities firm:
FIFTH THIRD SECURITIES, INC. (CRD# 628)
101 WEST STEPHENSON, FREEPORT, IL 61032 Registered with this firm since 05/2001
Mark Vernon Rottler was previously registered with the following securities firm(s):
05/2000 - 05/2001 OLD KENT FINANCIAL ADVISORS (CRD# 17039) - GRAND RAPIDS, MI
10/1997 - 05/2000 PRIMEVEST FINANCIAL SERVICES, INC. (CRD# 15340) - ST. CLOUD, MN
03/1995 - 10/1997 LASALLE ST SECURITIES, L.L.C. (CRD# 7191) - ELMHURST, IL
09/1994 - 03/1995 PROVALUE INVESTMENTS, INC. (CRD# 27177)
07/1993 - 12/1993 TRI-MERICA SECURITIES CORPORATION (CRD# 14081) - TINLEY PARK, IL
If you feel your stock broker recommended an inappropriate investment or investment strategy that resulted in significant financial losses, the Soreide Law Group offers a free consultation and portfolio analysis to determine if you have legal grounds to pursue a FINRA arbitration. To speak with a lawyer call (888) 760-6552.
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