hand grabbing money

Randy Lee Birkinbine of North Oaks Minnesota a stockbroker currently registered with Ausdal Financial Partners Inc. is the subject of a customer initiated investment related arbitration claim where the customer requested $109,000.00 in damages based upon allegations of illiquid and unsuitable investments including private placements and real estate securities which led to an over-concentration in the customer’s account by Birkinbine when he was associated with Ausdal Financial Partners. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02846 (Sept. 3, 2020).

FINRA Public Disclosure reveals that Birkinbine has been identified in three additional customer initiated investment related disputes regarding accusations of his misconduct while he was employed by Workman Securities Corporation and Invest Financial Corporation. Birkinbine is referenced in a customer initiated investment related written complaint which was resolved for $25,847.54 in damages supported by allegations that the Invest Financial Corporation customer had been led to believe that seven percent annual returns would be guaranteed to her through her purchase of a variable annuity through Birkinbine.

On January 15, 2015, a customer initiated investment related arbitration claim involving Birkinbine’s conduct was settled for $35,000.00 in damages founded on accusations that due diligence had not been completed by Birkinbine prior to the stockbroker recommending that the Workman Securities Corporation customer invest in Quest Energy Management. The claim alleges that the oil and gas company defaulted on its loan after it had been taken into receivership.

On February 21, 2018, another customer filed an investment related complaint concerning Birkinbine’s conduct where the customer sought $150,000.00 in damages based upon allegations that the customer had not been provided adequate information from Birkinbine prior to investing in oil and gas private placement offerings. The claim alleges that the customer was denied a return of his investment and has faced unwarranted investment losses because of Birkinbine’s actions at Ausdal Financial Partners.

Birkinbine was discharged by Invest Financial Corporation supported by accusations of his misconduct with respect to customers’ account transaction documents. He has been registered as a stockbroker of Ausdal since June 24, 2011 and an investment adviser representative of Ausdal since October 22, 2016.