Robert Mark Star of Bluffton South Carolina a stockbroker currently registered with IBN Financial Services Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought $500,000.00 in damages based upon accusations of a breach of fiduciary duty by Star during the period that he was registered with IBN Financial Services. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-03281 (October 8, 2020). According to the claim, Star misrepresented information relating to direct investments. The claim also alleges that Star’s negligence resulted in bad alternative investment purchases.

Star has been identified in two additional customer initiated investment related disputes concerning allegations of his wrongdoing while employed by EDI Financial Inc. and UBS PaineWebber Inc. FINRA Public Disclosure shows that Star is referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $62,500.00 in damages supported by accusations of unsuitable and unauthorized trading of over-the-counter equities for the customer’s UBS account. The claim also alleges Star’s excessive trading at UBS.

Star is the subject of a different customer initiated investment related FINRA securities arbitration claim in which the Arbitration Panel found EDI Financial liable on the customer’s causes of action and ordered EDI Financial to pay $432,515.00 in compensatory damages. FINRA Arbitration No. 16-01243 (August 17, 2017). The Statement of Claim alleges fraud and breach of fiduciary duty by EDI Financial regarding the customer’s private placement purchases. According to the claim, the customer was invested in unsuitable alternative investments, including real estate investment trusts (REITs) and private placements. The claim also alleges failure to supervise and negligence.

Star has been registered with IBN Financial Services as a stockbroker since February 10, 2017, and IBN Advisory Services Inc. as an investment adviser representative since December 18, 2020.

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