Last Updated: January 2025 (Overland Park, KS)
Russ Fieger Investigation Summary
Here’s what you need to know about Overland Park, KS, stockbroker Russ Fieger:
- Name: Russell Edward Fieger
- Current Employer: Colorado Financial Service Corporation
- CRD Number: 4122326
- Prior Employers: LPL Financial, Crown Capital Securities, Blue River Capital
- Function: Stockbroker / Financial Advisor
- Primary Location: Overland Park, KS
- Aliases: Russ Fieger
- Can Russell Fieger be sued in FINRA arbitration? Yes
- Sanctioned by Securities Regulator: Yes
- Highest Settlement or Award: $86,600
- Pending Customer Dispute Seeks Damages of: $325,000
If you’ve sustained damages from Mr. Fieger, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Russ Fieger As Your Stockbroker?
Mr. Fieger has been involved in a regulatory action and several customer disputes related to unsuitable investments and breaches of fiduciary duty.
- Pending Arbitration (Case #24-02131):Filed on October 3, 2024, customers of Crown Capital allege that Mr. Fieger breached fiduciary duties, recommended unsuitable investments, and failed to disclose material information related to oil and gas Direct Participation Programs (DPPs). Damages of $325,000 are sought in this pending FINRA arbitration.
- Regulatory Action (Case #13E023/2011-5808): On March 18, 2014, the Kansas Securities Commissioner ordered Mr. Fieger and his firm, Cornerstone Securities LLC, to pay $86,600 in restitution to customers who were sold unsuitable leveraged and leveraged-inverse exchange traded funds (ETFs).
- Customer Dispute (Settled for $86,600): A dispute related to the leveraged ETF funds was settled through restitution on March 18, 2014.
See this for more information on REITs and Other Alternative Investments
FINRA Rule 2111- suitability -Regulation Best Interest
Alternative Investments: These are assets that are not stocks, bonds or cash. Alternative investments generally fall within five categories: hedge funds, private capital, natural resources (oil and gas, energy), real estate (REITs) and infrastructure. They are typically less liquid that conventional investments, less regulated with higher fees and generally higher risk. For more investigations involving Alternative Investments, see this.
Allegations of Broker Misconduct Against Russell Fieger
Regulators and customers have alleged the following misconduct against Russell Edward Fieger:
- Unsuitable Investment Recommendations:
Claims include recommendations for leveraged ETFs and oil and gas DPPs that were not aligned with clients’ financial needs or risk tolerance. Such actions violate FINRA Rule 2111, which requires brokers to ensure investment suitability. - Breach of Fiduciary Duty:
In multiple cases, Mr. Fieger was alleged to have failed in his fiduciary responsibilities by recommending high-risk investments and failing to disclose key material information, constituting a violation of FINRA Rule 2010regarding high standards of commercial honor. - Regulatory Sanction:
The Kansas Securities Commissioner found Mr. Fieger liable for restitution due to unsuitable purchases of leveraged ETF funds, highlighting the importance of ensuring investments align with the client’s risk profile.
Other Investigations Involving Exchange Traded Funds (ETFs)
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Russ Fieger, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL, and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors, and broker-dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful.