Mark Allen Barrand of Denver, Colorado, a stockbroker formerly registered with Cetera Advisors LLC, is the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $100,000.00 in damages founded on accusations of Barrand’s unsuitable investment advice as it pertained to real estate securities when Barrand was registered with Cetera Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02713 (November 3, 2021).
FINRA Public Disclosure shows that Barrand has been identified in nine additional customer initiated investment related disputes containing allegations of his activities while he was registered with securities broker dealers, including Cetera Advisors and Ameriprise Financial Services. Barrand is referenced in a customer initiated investment related written complaint on August 2, 2018, where the customer requested $5,118.75 in damages supported by accusations of unsuitable alternative investments, including LP interests and DPP interests.
On June 18, 2019, another customer initiated investment related complaint concerning Barrand’s conduct was resolved for $22,500.00 in damages based upon allegations of negligence, unsuitable trading, and failure to conduct due diligence concerning direct investments while Barrand was employed by Cetera Advisors. According to the complaint, the customer was defrauded. The complaint also contains accusations of breach of fiduciary duty resulting in damages.
On September 9, 2020, a different customer filed an investment related FINRA securities arbitration claim regarding Barrand’s activities in which the customer sought $150,000.00 in damages founded on allegations of an unsuitable business development company (BDC) purchase and real estate security purchase by Barrand during the time that he was associated with Cetera Advisors. FINRA Arbitration No. 20-02959.
Barrand is also identified in a customer initiated investment related FINRA securities arbitration claim which was settled for $14,000.00 in damages supported by accusations of negligence and breach of fiduciary duty concerning master limited partnerships and non-traded REITs. FINRA Arbitration No. 20-00124 (February 5, 2021). The claim alleges that at Ameriprise Financial Services, Barrand advised the customer to invest in Northstar Healthcare and Oppenheimer Steelpath MLP Alpha Plus Fund.
On February 8, 2021, another customer filed an investment related FINRA securities arbitration claim involving Barrand’s conduct where the customer requested $125,000.00 in damages based upon allegations of bad advice by Barrand at Ameriprise Financial Services relating to an investment in BDCA, Northstar, FSKR, and FS Global Credit. FINRA Arbitration No. 21-00329.
Barrand is also the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $20,000.00 in damages founded on accusations of Barrand’s unsuitable recommendation of Business Development Corporation of America (BDCA) at Ameriprise Financial Services and Cetera Advisors. FINRA Arbitration No. 21-00333 (February 9, 2021). The claim alleges that the customer was not provided with reasonable disclosures concerning the investment, including the illiquidity of the product. Barrand was allegedly deprived of a timely redemption, resulting in a decline in the investment’s value.
From July 2016 through August 2021, Barrand was registered with with Ameriprise Financial Services. He was terminated on August 3, 2021.