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Ex-Cetera Advisors Broker Mark Barrand Accused of Making Unsuitable Investment Recommendations

Denver Financial Advisor Mark Barrand Named in Pending Customer Disputes 

Mark Allen Barrand, an Ameriprise Financial broker based in Denver, has nine customer claims on his BrokerCheck record. The most recent one, brought in February 2021, was from his time as a Cetera Advisors registered representative. 

Barrand has worked 14 years in the industry, and he is also an investment adviser. Other firms where he used to be registered include Legacy Advisor Services and Legacy Financial Services.

Our Denver securities fraud attorneys are looking into investor claims involving Mark Barrand. Please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) today so that we can help you explore your legal options. In Denver, call (720) 439-2827. Throughout the US, call (800) 259-9010 today. 

Here Are The Customer Disputes Involving the Former Cetera Advisors Broker:

  • 2/2021: This investor is seeking $25K in damages for the allegedly unsuitable investment recommendation of Business Development Corporation of America (BDCA) while Barrand was a Cetera Advisors broker. This claimant contends that she asked for a redemption in January 2018, but her request was not granted in a timely enough manner to prevent further losses.
  • 2/2021: These claimants are alleging the unsuitable recommendation of alternative investments that were illiquid and charged them high commissions. The investments at issue reportedly include BDCA, FS Global Credit, FSKR,  and NorthStar. They are seeking $125K in damages.
  • 9/2020: In this unsuitable investment claim, the customer is seeking $150K in damages.
  • 1/2020: This claimant received a $14K settlement over the allegedly unsuitable recommendation of NorthStar Healthcare Income REIT and Oppenheimer SteelPath MLP Alpha Plus Fund. 
  • 2/2019: Alleging unsuitability, due diligence failures, fraud, and breach of fiduciary duty, this investor received a $22,500 settlement.
  • 2/2018: This unsuitable investment fraud claim was denied.
  • 1/2018: Related to the alleged misrepresentation of variable annuities and unit investment trusts, this claim was also denied.
  • 1/2010: From when Mark Barrand was a Legacy broker, a $20K settlement was reached in this investor fraud claim alleging negligence, securities law violations, breach of fiduciary duty, and misrepresentations.
  • 10/2008: The customer dispute alleging misrepresentations was closed due to no action.

Over the years, our securities law firm has filed Financial Industry Regulatory Authority (FINRA) arbitration claims against broker-dealers Cetera and Ameriprise for losses suffered by investors because of the negligent or fraudulent actions of these firms registered representatives. Unsuitability is one of the most common reasons cited in investor claims seeking damages. 

What Qualifies as Unsuitability in a Securities Fraud Case? 

Unsuitable investment recommendations can lead to significant investment losses for customers who should never have invested in certain products, to begin with. SSEK Law Firm’s Partner and Attorney, Kirk Smith, explains what “suitability” and “unsuitability” mean in a securities fraud case:

Experienced Investment Fraud Attorneys

Pursuing damages against a broker-dealer is not the type of claim you want to file without seasoned legal help. Our Denver investment fraud lawyers have been representing investors for over 30 years. We’ve helped thousands to recover the compensation they are owed after they fell victim to various acts of securities fraud and broker negligence. Contact our lawyers at SSEK Law Firm today to receive a free case consultation.

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