Robert Burns Faced Cetera Advisor Networks Investor’s Unsuitable Advice Complaint

Investors might have sustained losses due to securities broker Robert Edward Burns (also known as Rob Burns) [CRD: 4066393, Greenwood Village, Colorado], according to public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Burns worked for Cetera Wealth Services LLC beginning September 20, 2019, and later became registered with Cetera Investment Advisers LLC on June 29, 2023, after previously being registered with Cetera Advisor Networks LLC from May 20, 2021, to June 29, 2023. Investors can see below to find out more about the disclosures associated with Burns’s professional record.

Cetera Advisor Networks Investor Accused Rob Burns Of Sales Practice Violation

Evidently, a Cetera Advisor Networks LLC client filed FINRA Arbitration No. 23-01603 regarding Robert Burns. Mainly, the client alleged that Burns made unsuitable recommendations. For this reason, the client allegedly experienced damages related to stocks and mutual funds. Therefore, on November 1, 2024, Cetera Advisor Networks LLC settled this matter by paying the client $125,000 in damages.

Robert Burns Disclosed Unsuitable Recommendations Allegations By Cetera Advisor Networks Client

Specifically, a client of Cetera Advisor Networks LLC disputed Burns’s sales practices by filing FINRA Arbitration No. 23-00976. Allegedly, Burns made unsuitable recommendations. It appears that Burns allegedly caused the client to incur damages involving mutual funds and real estate securities. As a result, Cetera Advisor Networks LLC opted to settle the matter on August 30, 2024, by paying the client $50,000.

VSR Financial Services Inc And Summit Brokerage Services Inc Investor Accused Rob Burns Of Overconcentration And Due Diligence Failures

Particularly, a VSR Financial Services Inc and Summit Brokerage Services Inc client filed FINRA Arbitration No. 19-02163 about Robert Burns. Primarily, the client alleged that Burns overconcentrated accounts and made unsuitable recommendations, including failing to perform due diligence. Because of this, the client allegedly incurred damages relating to real estate securities. Consequently, on August 7, 2020, the firms settled this matter by paying the client $62,500 in damages.

Robert Burns Disclosed Breach Of Fiduciary Duty Allegations By VSR Financial Services Inc And Summit Brokerage Services Inc Client

Notably, a client of VSR Financial Services Inc and Summit Brokerage Services Inc contested Robert Burns’s sales practices by filing FINRA Arbitration No. 18-02447. Allegedly, Burns made unsuitable recommendations, was negligent, and breached his fiduciary duty. It appears that Burns allegedly caused the client to experience damages linked to real estate securities. Therefore, the firms opted to settle the matter on June 6, 2019, by compensating the client in the amount of $150,000.

Were You Impacted By Financial Advisor / Securities Broker Rob Burns?

Do you have concerns or questions regarding investments you made with Robert Burns? You can get in touch with Soreide Law Group at (888) 760-6552 or online and talk to a securities lawyer regarding a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm takes cases on a contingency fee basis and advances all costs. Burns and the brokerage firms Burns worked for deny accusations of sales practice violations.