Robert Boris Hardcastle, of Chesterfield, Missouri, a stockbroker formerly registered with VSR Financial Services, has been nemed in a customer initiated investment related arbitration claim in which the customer requested $366,000.00 in damages based upon allegations that Hardcastle breached his fiduciary duty to the customers, made misrepresentations to the customers concerning investments, and effected unsuitable investments in the customers’ accounts.
FINRA Public Disclosure additionally reveals that Hardcastle has been subject to ten additional customer arbitrations. Particularly, on November 17, 2004, a customer initiated investment related arbitration claim involving Hardcastle’s actions was settled for $15,000.00 in damages based upon allegations that Hardcastle misrepresented investments as risk-free, and effected unsuitable investments in the customer’s account.
On October 25, 2005, another customer initiated investment related arbitration action regarding Hardcastle’s conduct was resolved for $100,000.00 in damages based upon allegations that Hardcastle effected unsuitable variable annuity and mutual funds purchases in the customers’ accounts. Subsequently, on November 4, 2005, a customer initiated investment related arbitration claim involving Hardcastle’s actions was settled for $130,000.00 in damages based upon allegations that Hardcastle effected unsuitable investments regarding managed investment accounts.
Further, on July 20, 2009, a customer initiated investment related arbitration action pertaining to Hardcastle’s conduct was resolved for $6,529.15 in damages based upon allegations that Hardcastle charged the customer with excessive annuity fees. On July 26, 2012, another customer filed an investment related arbitration action concerning Hardcastle’s actions based upon allegations that Hardcastle made investment based misrepresentations to the customer.
Additionally, on January 7, 2013, a customer filed an investment related arbitration claim regarding Hardcastle’s conduct, in which the customer requested $135,000.00 in damages based upon allegations that Hardcastle made unsuitable investment recommendations and charged excessive fees and commissions. On June 12, 2014, another customer requested $42,208.19 in damages per an investment related arbitration claim involving Hardcastle’s actions, in which the customer claimed that Hardcastle made unsuitable investment recommendations.
Moreover, on June 16, 2014, another customer filed an investment related arbitration action concerning Hardcastle’s conduct, in which the customer requested $12,768.12 in damages based upon allegations that Hardcastle made unsuitable investment recommendations and breached his fiduciary obligations to the customer. Subsequently, on March 27, 2015, a customer filed an investment related arbitration claim involving Hardcastle’s actions, in which the customer requested $52,577.00 in damages based upon allegations that Hardcastle overcharged the customers over a ten-year period.
Hardcastle’s registration with VSR Financial Services, Inc. ended in September of 2016. From September of 2016 to October of 2016, he was registered with Summit Brokerage Services, Inc. Since September of 2016, he has been registered with Berthel, Fisher & Company Financial Services, Inc.
Guiliano Law Group
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