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Ken Alan Balser formerly with Cetera Advisors, LLC Has 4 Customer Complaints for Alleged Broker Misconduct in the Past 3 Years

Who is Ken A. Balser formerly with Cetera Advisors, LLC?

Ken Balser (CRD #704053) who was formerly registered with Cetera Advisors, LLC and located in Colorado Springs, Colorado is a subject of one of our many securities industry sales practice abuse investigations. Prior to Cetera Advisors, LLC, Ken Balser was associated with 4 other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems.

Ken Balser has had his share of regulatory problems as well.  In fact, his license has been revoked by the Colorado Division of Securities and he consented to a FINRA permanent bar from association with any member firm in any capacity. 

Both regulatory actions arose out of an alleged undisclosed and unapproved investment solicitation by Ken Balzer that no less than 17 of his clients invest in Tesoro Del Alma, an alleged gold mine investment. When FINRA requested his testimony in connection with its investigation, he refused to appear and testify, another FINRA Rule 8210 violation which warranted, the permanent bar by itself.

Undoubtedly, the regulatory investigations triggered the termination of his employment at Cetera Advisors, LLC.  The alleged recommendations that his clients invest in the gold mine would not only be a violation of FINRA Rules but firm policies and procedures as well.

Cetera Advisors, LLC Broker Misconduct

In his career, Ken Balser has been the subject of 4 customer complaints that we know about, 1 of those complaints were filed in the last year to recover investment losses. All of Ken Balser’s customer complaints were settled in favor of investors.

Allegations Against Ken Balser

A sample of the allegations made in the FINRA reported arbitration claim settlements and pending complaints for investment losses are as follows:

  • The customer’s alleged violations of federal and Pennsylvania securities laws, Pennsylvania Unfair Trade Practices Act, violation of Colorado Securities and Consumer Protection Acts, breach of contract, common law fraud, breach of fiduciary duty, and gross negligence related to an investment in a gold mine.
  • The customer alleged violation of federal and Colorado securities laws, breach of contract, common law fraud, breach of fiduciary duty, negligence, and gross negligence related to a private placement, investment.
  • Claimants alleged violations of federal, Colorado, and South Carolina securities laws, breach of contract, common law fraud, breach of fiduciary duty, negligence, and gross negligence related to a gold mine investment.
  • The client alleged unsuitable investment recommendations in violation of the Wyoming and Colorado securities laws, breach of contract, breach of fiduciary duty, common law fraud, and negligence related to a private placement investment.

Ken Balser Red Flags & Your Rights as An Investor

Of course, Ken Balser did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Ken Balser at Cetera Advisors, LLC on alert to review carefully the activity and performance of their accounts and question whether Ken Balser has engaged in any stockbroker misconduct that may have caused them investment losses.

A large number of customer complaints at Cetera Advisors, LLC also raises questions about supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.

File A Claim To Recover Your Investment Losses At Cetera Advisors, LLC

If you have questions about Cetera Advisors, LLC and/or Ken Balser and the management or performance of your accounts please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.

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Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

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