Claimants in a pending FINRA arbitration seek $1,000,000 in a limited partnership dispute naming Timothy Stauffer (CRD 4178198). Concorde Investment Services is the firm on the disclosure. The allegations are unproven, and no arbitrator has ruled.
The claimants filed on August 17, 2026, under FINRA docket 26-01813. BrokerCheck lists the product as Limited Partnership / DPP.
According to BrokerCheck, the allegations include "sale of a fraudulent tax shelter." The claimants also allege the investment was not suitable for them, along with failure to supervise and breach of fiduciary duty. The claim against Timothy Stauffer remains pending.
A direct participation program, or DPP, passes a business's income, losses and tax items straight through to investors. Most are limited partnerships in real estate, energy or equipment leasing.
Sponsors have long marketed some DPPs for their tax benefits. Those benefits depend on tax law and on the program's own results. Units rarely trade, so investors usually hold until the program winds down.
When we review a DPP claim, we look first at what the investor heard about taxes and liquidity. The Timothy Stauffer disclosures list this product type for both matters.
Brokerage firms must report certain customer complaints on a broker's registration record. That duty can reach a broker who handled the account even when the claimant did not name the broker in the filing.
Firms do this through Form U4 and Form U5 updates. The disclosure then appears on BrokerCheck, along with the broker's statement if he or she adds one. The older dispute on Timothy Stauffer's report came about this way, according to his statement.
The claim reached Fintegra on April 11, 2013, under docket 13-00904. It alleged failure to conduct reasonable due diligence on the investment, misrepresentation of risks and unsuitability. Alleged damages were $110,000, and the dispute settled on April 6, 2016, for $15,000.
In his statement, Stauffer said he was not named in the filing. He said Fintegra filed a Form U5 update listing him as the subject because he was the representative on the account. Concorde then had to resolve a deficiency in CRD and file a Form U4 update, he said.
He also said Fintegra has since gone bankrupt and that he and Concorde received no specific information about the settlement. "The rep contributed nothing to a settlement," the statement says.
Every FINRA member firm must supervise its brokers. Investors with questions about an account Timothy Stauffer handled can call Soreide Law Group at (888) 760-6552. You can also reach us online. Our attorneys represent investors in FINRA arbitration nationwide. We take these cases on a contingency fee basis. You can read more about how FINRA arbitration works.
This post summarizes public FINRA records, including BrokerCheck, as of October 31, 2026. Allegations in customer complaints and arbitrations are claims, not findings. Pending claims remain open and undecided. A settlement is also not an admission of wrongdoing. FINRA may also update or correct these records after that date.
The newest customer dispute on Thomas Kelly's BrokerCheck report (CRD 2877415) ended in a $175,000 settlement on May 15, 2025. The customer filed it on January 23, 2025, and the disclosure names Aegis Capital as the firm. A settlement is not an admission of wrongdoing.
Claimants in a pending FINRA arbitration seek $1,000,000 in a limited partnership dispute naming Timothy Stauffer (CRD 4178198). Concorde Investment Services is the firm on the disclosure. The allegations are unproven, and no arbitrator has ruled.
Univest Securities is the firm named in a FINRA regulatory event on the BrokerCheck report of Xing Su (CRD 4031195). BrokerCheck shows the event received on September 3, 2026, under docket number 2024083689501.
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