It appears that investors have challenged the sales practices of securities broker Rodger Sprouse (CRD#: 5483578, Lee’s Summit, Montana). Specifically, the securities broker, who is presently a Titan Securities financial advisor and securities broker, is involved in six investor disputes in which clients allege to have experienced damages because of him. Let’s take a closer look at these disclosures, including what you can do if you sustained damages from potential misconduct by the securities broker.
A client of Titan Securities took issue with the sale of a Future Income Payments structured cash flow investment. Supposedly, Rodger Sprouse recommended this product to them. In the April 2020 dispute, the client sought to recover losses from investing in FIP who has shut down operations and is facing lawsuits. For this reason, Titan Securities opted in April 2020 to resolve this matter through making a $43,000 payment to the client.
It appears that a second investor came forward in February 2019 with a dispute about Rodger Sprouse’s FIP activities. It appears that the investment in the doomed company was purchased by the client through Sprouse. The lawsuit alleges that the client sustained losses because of this purchase. Evidently, Titan Securities compensated the client to the tune of $158,000 to settle this matter in October 2019.
Before working for Titan Securities, Rodger Sprouse worked for Evolve Securities and Evolve Investment Advisors. Notably, a client of Evolve Securities disputed a viatical settlement transaction. It appears that Sprouse caused the client to incur losses on Life Partners. However, Evolve Securities denied this dispute.
In the first few disputes reported on Rodger Sprouse’s BrokerCheck report, clients allege sales practice violations. For example, an Evolve Securities client alleged deficient disclosures concerning their viatical settlement purchase. Not only that, but a prior dispute involving a Titan Securities client contains allegations of unsuitable investments. Supposedly, that client purchased an unsuitable equipment leasing security, real estate security and a BDC. However, the securities firms denied those disputes.
Finally, BrokerCheck shows that a Stonehurst Securities client complained about a life settlement purchase. Supposedly, Rodger Sprouse sold inappropriate life settlements to the client for their profit sharing plan. It appears that Stonehurst Securities paid the client $46,748.60 to settle this matter.
Have you experienced losses because of broker Rodger Sprouse? If so, contact Soreide Law Group at (888) 760-6552 and speak with our securities attorney about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have fallen victim to financial advisor and securities broker misconduct. FINRA BrokerCheck indicates that Sprouse denies all allegations of his sales practice violations.
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