UPDATE DECEMBER 2016–FINRA records indicate that Robert M. Hinz, Jr. left VSR Financial Services in July 2016 and is not currently registered with any FINRA broker dealer.
ORIGINAL POST – Seatlle, WA,–November 10, 2015 Rex Securities Law is investigating stock broker Robert M. Hinz, Jr. who has been employed by VSR Financial Services, Inc. in Seattle, Washington since 1994. According to FINRA records, Hinz has been named in 7 customer disputes according to his FINRA record which can be accessed here.
Several of the customer complaints allege misrepresentation in connection with the sale of private placements, including the Reef Oil & Gas Income Funds.
VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments. In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.
Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. It may also include art, wine, antiques, coins or stamps. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.
If you have losses in an account handled by Robert M. Hinz , call to learn how you may be entitled to collect damages from his former employing firm.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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