Silver Law Group is investigating Houston, Texas-based Summit Brokerage Services, Inc. (CRD# 34643) broker Keith A. Bradley (CRD# 868141) after a customer filed a FINRA arbitration alleging unsuitable recommendations and negligence.
According to Bradley’s FINRA BrokerCheck report, a customer filed a FINRA arbitration against Bradley in July 2016 alleging unsuitable investments, negligence, and $100,000 in damages.
In addition to the FINRA arbitration filing, Bradley has four other disclosures on his FINRA BrokerCheck report. The other four are all tax liens accrued in separate cases. His first came in 1989 and is for an unspecified amount. His second tax lien was in 1999 in the amount of $109,000. His third came three years later in 2002 in an amount of $108,000. His most recent tax lien was in 2011 in the amount of $400,000.
Prior to working at Summit, Bradley had been employed by VSR Financial Services, Inc. (CRD# 14503) from 2002 to 2016. His transfer to Summit could be due to VSR winding down and closing. Bradley was employed in the Texas branches of Summit and VSR Financial Services.
Summit and VSR are part of Cetera Financial Group’s extensive network of independent brokerage firms, many of which came to be owned by a common owner when Nicholas “Nick” Schorsch and RCS Capital Corp. went on an acquisition spree to acquire brokerage firms.
Many of the firms under then Cetera network have a history of selling alternative investments, including Schorsch and RCS Capital’s penchant business development companies (“BDCs”), non-traded REITs, oil and gas drilling partnerships, and private placements. Our firm has compiled a list of some of the non-traded REITs and BDCs.
Alternative investments can be riskier than more traditional investments because they can have high commissions, limited liquidity and can be complex. In fact, FINRA arbitration has seen a sharp rise in securities arbitration claims relating to alternative investments.
Our lawyers are experienced and seasoned veterans when it comes to securities litigation, guiding hundreds of clients through the FINRA arbitration process and winning millions of dollars for them.
If you invested with Keith A. Bradley, VSR Financial Services, and/or Summit Brokerage Services and have sustained losses, you may be entitled to recover some of your investment losses. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345 to speak to an attorney to find out how we may be able to help you recover some of your investment losses.