VSR Financial Services
Based in Overland Park, Kansas, VSR Financial Services is a full-service
securities broker-dealer offering asset allocation, bonds, mutual funds,
IRAs, and financial, retirement, and estate planning services. Founded
in 1985, VSR Financial Services is the second-largest broker-dealer in
Kansas, with about 200 representatives in 30 states.
Under regulations created and enforced by the
Financial Industry Regulatory Authority (FINRA), investors have certain rights that protect them from poor investment
broker practices. One FINRA regulation requires investment companies like
VSR Financial Services to oversee their representatives, which holds the
company responsible for the actions of their licensed brokers. If a broker
acts in a way that is not in the interest of investors that causes them
loss or damages, the investor has the legal right to demand repayment
from the broker’s license-provider.
A History of Negligent Behavior
$550,000 Fine for Failure to Supervise
In 2013, FINRA fined VSR over half a million dollars for not providing
a proper system for overseeing brokers and holding them accountable. As
a result, its brokers gave inappropriate recommendations to investors,
millions of dollars because of investments that exceeded the level of risk they limited their
$150,000 Fine for Poor Records
The State of Missouri required VSR to pay a fine in 2011 for bad maintenance
of their record of transactions, making accountability difficult for investors
and legal authorities.
Brokers Exceed Risk Tolerance for Investments
Broker Michael Shaw sold investors stock that exceeded their “risk
tolerance,” essentially putting their money in a more aggressive
context than they instructed. These unsuitable trades occurred as a result
of VSR’s lack of oversight and enforcement of FINRA regulations.
Contact Our Experienced Investment Loss Attorneys
IF you have lost money due to the inappropriate or unethical behavior of
a broker from VSR Financial Services, you have a right to hold them responsible
for your losses. Regulatory authorities like FINRA may bring these companies
to justice, but it is up to individual investors to seek reparations from
the investment company.
That’s why Meyer Wilson exists – to recover what rightfully
belongs to victims of fraud. Our lawyers conduct claims in state and federal courts nationwide, as
well as in arbitration with FINRA and the American Arbitration Association, or AAA.
Our efforts allowed us to reclaim over $350 million on behalf of our clients.
You may have a case against VSR Financial Services. Let Meyer Wilson help
you take back what is rightfully yours. Contact us today for a