Mark Allen Barrand of Highland Ranch Colorado a stockbroker formerly registered with Cetera Advisors LLC is the subject of a customer initiated investment related arbitration claim in which the customer requested $65,000.00 in damages based upon allegations including negligence and the breach of a fiduciary duty as it pertained to Barrand’s sale of limited partnership interests and mutual funds during the time that Barrand was associated with Cetera Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00124 (Jan. 13, 2020).
Barrand is referenced in five more customer initiated investment related disputes containing allegations of his wrongdoing while associated with securities broker dealers including Multi Financial, Legacy Financial Services, Cetera Advisors and Ameriprise Financial Services. FINRA Public Disclosure reveals that a customer filed an investment related complaint involving Barrand’s conduct in which the customer requested $20,277.00 in damages based upon allegations that the customer’s investment instructions were not followed by the stockbroker and that misrepresentations were made relating to the mutual fund transactions executed in the Multi Financial customer’s account.
Barrand is referenced in a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages founded on accusations that transactions ran afoul of securities regulations and that Barrand’s negligence caused the Legacy Financial Services customer to experience losses. According to the claim, the stockbroker made misrepresentations pertaining to a variable annuity transaction. The claim also alleges a breach of a fiduciary duty that Barrand owed to the customer.
On January 11, 2018, another customer filed an investment related complaint pertaining to Barrand’s conduct in which the customer requested $138,500.00 in damages supported by allegations of misrepresentations pertaining to unit investment trusts and variable annuities by Barrand during the time that he was associated with Ameriprise Financial Services. The stockbroker is also referenced in a customer initiated investment related complaint on September 26, 2018 where the customer sought $5,118.75 in damages based upon accusations that alternative investments were unsuitable for the Cetera Advisors customer.
Barrand is the subject of another customer initiated investment related complaint which was resolved on June 18, 2019 for $22,500.00 in damages based upon accusations including negligence and the breach of a fiduciary duty by Barrand in reference to unsuitable sales of direct participation program interests or limited partnership interests when Barrand was registered with Cetera Advisors. According to the claim, there was no due diligence performed by the stockbroker prior to him recommending investments. The claim also alleges that the customer was defrauded.
Barrand’s registration with Cetera Advisors was terminated on August 1, 2016. He has been registered with Ameriprise Financial Services since July 29, 2016.
