Robert Vance Subject of Dispute Alleging Negligence

Robert Vance (CRD #: 1887560), a broker registered with Moloney Securities Company, is involved in several pending investor disputes, according to his BrokerCheck record, accessed on June 4, 2022. If you want to learn more about Robert Vance’s conduct as a broker, read on.

Investor Disputes

Investors filed six disputes from June 2022 to May 2023, naming Robert Vance in allegations of negligence and violations of the suitability rule during a collective time frame spanning 2016-2020. These pending disputes seek at least $598,450 in damages.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether the investments they recommend fit their investor’s financial goals. Brokers must examine the investor’s profile, which describes the following investor characteristics:

• Age
• Financial goals
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investors who attribute their losses to unsuitable investment recommendations may be able to recover their losses through FINRA arbitration.

What is broker negligence?

Broker negligence can range from omitting information to giving unsuitable investment recommendations or engaging in excessive trading. Investors who feel their losses were caused by broker negligence may be able to recover their losses by pursuing FINRA arbitration.

SEC Investigation

On May 11, 2023, the Securities and Exchange Commission launched an investigation into Robert Vance and allegations of potential violations of Regulation Best Interest.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Robert Vance has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 52TO – Municipal Securities Representative Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 51 – Municipal Fund Securities Principal Examination
• Series 24 – General Securities Principal Examination

Robert Vance is a registered broker in 12 states and a registered investment adviser in California.

He has also worked for the following firms:

• Vance Capital Management (CRD#:128678)
• Ridgeway & Conger (CRD#:113055)
• BFT Financial Group (CRD#:109121)
• World Choice Securities (CRD#:30933)
• Macken Securities (CRD#:13390)
• SunAmerica Securities (CRD#:20068)
• American Express Financial Advisors (CRD#:6363)
• IDS Life Insurance Company (CRD#:6321)
• Dreamwest Securities Corporation (CRD#:19478)

Kurta Law Can Help

If you worked with Robert Vance and you 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.