Written by The White Law Group• July 20, 2019• 6:43 pm• Blog, Current Investigations

Brian L. Royster Broker Investigation

Financial Advisor Brian L. Royster, HD VEST – Ann Arbor, Michigan

Are you concerned about your investments with former financial advisor Brian L. Royster in Ann Arbor, Michigan? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim against his former employer.

According to publicly available records, the Financial Industry Regulatory Authority (FINRA) reportedly barred Royster from working in the securities industry after he allegedly refused to comply with a FINRA request for documents and information related to its investigation into the circumstances surrounding his termination from his member firm.

According to his FINRA BrokerCheck report, Royster was registered with HD Vest in Ann Arbor, Michigan from January 2014 until he was reportedly discharged in January 2017 for taking “loans from clients in violation of the firm’s policies.” He allegedly has four customer disputes on his broker record. Most recently the following complaints have been filed against him:

In 2019 a pending complaint alleges that a “Customer alleges that they believed they had invested money in a company that was owned and operated by the representative but that the representative instead used the money for his personal purposes.”

In 2018 a settled complaint indicates that “Client alleged the representative provided false information to her and her husband in that they would not be penalized or have to pay taxes for rolling over funds from their IRA into another investment.”

The White Law Group is investigating potential lawsuits regarding the liability that his former employers may have for failure to properly supervise Royster.

When brokers abuse client accounts and conduct transactions that violate securities laws, such as churning, and unauthorized trades, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, includingMichigan. Our attorneys have recovered millions of dollars from many brokerage firms in the past.