Investors Allege Russel Fieger Misrepresented DPP Interests

Russel Fieger (CRD #: 4122326), a broker registered with Colorado Financial Service Corporation, is involved in an investor dispute, according to his BrokerCheck record, accessed on December 11, 2024. Investors may have also engaged his services through Cornerstone Securities. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On November 7, 2024, several investors filed a dispute naming Russell Fieger in allegations of impermissible overconcentration, lack of suitability, and the misrepresentation and omission of material information regarding the sale of an alternative investment in direct participation program (DPP) and limited partnership (LP) interests. The clients seek $325,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe 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 rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material facts related to investments.

What are Direct Participation Programs?

Direct participation programs (DPPs) allow retail investors to buy shares of private companies. Like other private placement investments, DPPs come with significant risk because the issuers aren’t required to make the same financial disclosures as public companies.

Background Information

Russel Fieger has passed the following exams:

• General Securities Principal Examination – Series 24
• Investment Company Products/Variable Contracts Representative Examination – Series 6TO
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Combined State Law Examination – Series 66

Russel Fieger is a registered broker in seven states and a registered investment adviser in six states.

He has also worked for the following firms:

• LPL Financial (CRD#:6413)
• Crown Capital Securities (CRD#:6312)
• Blue River Capital (CRD#:277130)
• Brookstone Securities (CRD#:13366)
• Brookstone Investment Advisory Services (CRD#:13366)
• Quantum Financial Partners (CRD#:138112)
• Cambridge Investment Research Advisors (CRD#:134139)
• Cambridge Investment Research (CRD#:39543)
• Prudential Financial Planning Services (CRD#:5685)
• Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Russel Fieger 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 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.