Financial Independence President & Ex-Dallas, Texas Financial Advisor Was Barred by FINRA
Dana Bruce Vietor, a former CFD Investment Services registered representative is under scrutiny following multiple allegations of broker misconduct that have led to customer losses. The latest still pending claims were brought by investors seeking to collectively recover more than $3M in damages.
According to his LinkedIn, Vietor is the President of Financial Independence Corp. in Dallas, Texas. He also is a manager of SRS Management, LLC.
The ex-registered representative was barred by the Financial Industry Regulatory Authority (FINRA) in March 2020. It was found that he engaged in promissory note sales worth over $3 million without disclosing and getting permission from member firms for each private securities transaction.
The promissory notes, known as deposit agreements, raised money for entities that Vietor had membership interests in and on whose management teams he is a member. Because of this, Vietor was receiving indirect compensation for the sales. He did not deny or admit to FINRA’s findings.
Our Dallas broker misconduct attorneys are speaking to former customers of Dana Vietor to help them determine whether they have grounds for a FINRA arbitration. Contact us at SSEK Law Firm today.
Ex-Broker Dana Vietor Facing Over 9 Customer Disputes
There are currently 12 disclosures on Dana Vietor’s BrokerCheck record, nine of which are customer disputes:
- 6/2021: This customer complaint alleges selling away involving private securities transactions, fraud, negligent misrepresentation, breach of contract, negligence, breach of fiduciary duty, failure to supervise, and violations of Iowa securities laws. The claimant is requesting more than $2.6M in damages
- 4/2021: Making similar allegations, this investor is requesting over $108M in damages
- 3/2021: This selling away case is requesting nearly $610K in damages
- 6/2019: Claiming selling away, fraud, unsuitability, and negligence involving variable annuities and a private placement, this customer settled for $32,600
- 6/2018: This private placement claim was closed due to a lack of action
- 4/2017: An $18K settlement was reached in this customer dispute. The customer alleged unsuitability and misrepresentations involving a non-traded real estate investment trust (non-traded REIT), variable annuity (VA), and a direct investment
- 10/2011: This investor case alleging misrepresentations was settled for $5K
- 2/2011: Unsuitability and overconcentration involving a REIT. This customer received a $35K settlement
- 11/2010: This dispute accusing Vietor of exercising discretion by purchasing stock without the customer’s consent was denied
Vietor worked in the industry for 31 years. He was a CFD Investment Services financial advisor from 2016 to 2018, which is when the firm allowed him to resign after alleging that he engaged in unapproved securities transactions.
Other broker-dealers where he used to be registered include Oakbridge Financial Services, Cape Securities, Allied Beacon Partners, Workman Securities, The Advisors Group, Allied Group Merchant Banking, and others.
Seasoned Dallas Broker Negligence Law Firm
If you believe that you suffered losses when working with Dana Vietor, CFD Investment Services, or another brokerage firm, get in touch at (214) 613-5306.
Our experienced Dallas FINRA arbitration attorneys have successfully represented thousands of investors in their arbitration claims. Throughout the rest of the United States, you can also reach SSEK Law Firm by call (800) 259-9010 today.