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Brian Stern is the Subject of a Six-Figure Investor Dispute

Brian Stern (CRD #: 3137402), a broker registered with Osaic Wealth, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on December 22, 2023. Details concerning this dispute are provided below. 

On November 3, 2023, Transamerica Financial Advisors submitted a U5 filing alleging that Brain Stern advised a client to surrender her husband’s annuity after his death and subsequently recommended products that were unsuitable for her. 

The investor is seeking $845,000. 

What Makes a Product Unsuitable? 

FINRA Rule 2111 defines suitable investments as investments that suit an investor’s financial needs. If an investor is a senior and relies on their investment portfolio for income, high-risk investments would be unsuitable. Furthermore, Regulation Best Interest requires that brokers use reasonable care and skill when recommending investments, which should preclude any overly risky securities. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 also violate this rule. 

Background Information 

Brian Stern has passed the following exams: 

  • Series 65 Uniform Investment Adviser Law Examination 
  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 
  • Series 6 Investment Company Products/Variable Contracts Representative Examination 

He is a registered broker in eight states and is a registered investment adviser in Minnesota. 

During his 25 years of experience, he has registered with three firms: 

  • Osaic Wealth (CRD #: 23131)
  • Signator Investors (CRD #: 468) 
  • TransAmerica Financial Advisors (CRD #: 16164) 

Kurta Law Can Help 

If you have worked with Brian Stern and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.