Mark Barrand Faces Investor Claims of $375,000

Mark Barrand (CRD #: 4586528), a broker previously registered with Ameriprise Financial Services LLC, is facing multiple investor allegations of unsuitable investment recommendations. This information is from Mark Barrand’s BrokerCheck record, accessed on March 13, 2022. Keep reading for more information about his conduct as a broker and pending customer disputes.

Unsuitable Investment Allegations

Mark Barrand is currently facing multiple customer disputes from customers alleging that he recommended unsuitable investments. FINRA Rule 2111 states that a firm or broker associated with a firm can only recommend investments based on a reasonable indication that the transaction or strategy that they are recommending fits the customer’s investment profile. That investment profile includes information on the investor’s age, financial situation and needs, risk tolerance, and investing experience.

Investors who rely on their brokers for recommendations regarding transactions and/or investment strategy may be able to recover their losses through FINRA arbitration.

Mark Barrand faced five investor disputes alleging unsuitable investment recommendations during 2021 and 2020.

• On November 3, 2021, investors alleged that Mark Barrand recommended unsuitable investments that resulted in losses. The investors are seeking $100,000; the dispute is currently pending.
• On February 8, 2021, investors alleged that Mark Barrand recommended unsuitable investments including FSKR, FS Global Credit, BDCA, and Northstar. The investors are seeking $125,000; the dispute is currently pending.
• On September 9, 2020, an investor alleged that Mark Barrand recommended unsuitable investments. The investor is seeking $150,000; the dispute is currently pending.

Other Investment Disputes

Mark Barrand faced four other investment disputes between 2010 and 2019. These disputes also involved unsuitable investment recommendations, and two also involved misrepresentation and other fraudulent actions. Misrepresentation is prohibited under FINRA Rule 2020, which prohibits manipulative, deceptive, or fraudulent actions related to the purchase or sale of securities.

Background Information

Mark Barrand 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 has worked for the following firms:

• Ameriprise Financial Services LLC (CRD #: 6363)
• Cetera Advisors LLC (CRD #: 10299)
• Legacy Financial Services, Inc. (CRD #: 38697)

Kurta Law Can Help

If you worked with Mark Barrand and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.