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Brent Burgesser Resigns from Belpointe Asset Management

Feb 24, 2023 Employment

Brent Burgesser (CRD #: 3278147), a broker formerly registered with International Assets Advisory, has resigned from an investment advisory firm, according to his BrokerCheck record, accessed on February 15, 2023. If you want to know more about his alleged conduct as a broker, read on.

Resignation from Belpointe Asset Management

On December 28, 2022, Brent Burgesser resigned from investment advisory firm Belpointe Asset Management for allegedly failing to follow firm policies and procedures while under heightened supervision.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Civil Liens

In 2020, Brent Burgesser was subject to two civil liens totaling $75,817.93.

FINRA Suspension

On April 25, 2016, Brent Burgesser consented to the entry of findings that he allegedly recommended unsuitable short-term Class A mutual fund switches in clients’ accounts from January 2009 through May 2012.

According to a Letter of Acceptance, Waiver & Consent (AWC), Brent Burgesser allegedly recommended 83 unsuitable short-term switches of Class A mutual funds in three clients’ accounts. He allegedly typically sold these investments after only 1 ½ to 3 months, only to buy and sell another mutual fund soon after.

Because these transactions were allegedly only between Class A mutual funds, his clients allegedly incurred upfront sales charges (called “front-end loads”) amounting to at least $119,209.

The AWC further alleges that Brent Burgesser sold shares in a certain mutual fund for some clients, then later repurchased shares in the same fund for the same clients. He allegedly did not have a reasonable basis to believe that these transactions were suitable for the clients given these transactions’ nature, size, and frequency and these clients’ profiles.

Brent Burgesser allegedly did not discuss the types of shares available to these clients, the sales charges and operating expenses involved in these shares’ class, the effect of these charges on clients’ returns, or the available cost-saving options.

The three clients in question allegedly incurred a collective $63,738 in losses from Brent Burgesser’s recommendations, which also generated approximately $109,602 in commissions.

The AWC concludes that these allegations constitute violations of NASD Rules 2310 and IM-2310-2 and FINRA Rule 2010.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age.

This rule also holds brokers to an implicit obligation towards fair dealing with clients.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.


Brent Burgesser consented to the following sanctions:

  • $5,000 fine
  • 60 calendar-day suspension

His suspension ran from May 16 to July 14, 2016.

You can read a copy of the AWC here.

Background Information

Brent Burgesser has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 31 – Futures Managed Funds Examination
  • Series 7 – General Securities Representative Examination

In the past, he has worked for the following firms:

  • International Assets Advisory (CRD#:10645)
  • LPL Financial (CRD#:6413)
  • Wells Fargo Advisors (CRD#:19616)
  • Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
  • Morgan Stanley DW (CRD#:7556)
  • PaineWebber (CRD#:8174)

Kurta Law Can Help

If you worked with Brent Burgesser and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.