Advisor Alert: Our Attorneys Are Investigating Ken Alan Balser For Investment Fraud
Did You Lose Money Because of Ken Balser?
Filed: November 15, 2023
Ken Balser has been the subject of two (2) regulatory events, one (1) termination event, and four (4) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Ken Alan Balser.
Who Is Ken Alan Balser?
- Advisor Name: Ken Alan Balser
- Aliases: Kenneth Alan Balser
- CRD: 704053
- Location: Colorado Springs, Colorado
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Cetera Advisors LLC, LPL Financial LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated
- Number of Known Customer Complaints: 4
- Number of Known Regulatory Events: 2
- Number of Known Termination Events: 1
- Can Ken Balser Be Sued: Yes, in Private Arbitration
- Can Ken Balser’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $250,000
- Highest Settlement: $210,000
If you have suffered investment losses by Ken Balser, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Ken Balser For Broker Misconduct
As of this publication date, Ken Balser has been the subject of 2 regulatory events, 1 termination event, and 4 customer disputes. Let’s review them below.
In May 2020, a FINRA arbitration was filed against or in reference to Ken Balser by a customer of Cetera Advisors LLC alleging violations of Federal and Pennsylvania securities law, violation of Pennsylvania unfair trade practices, violation of Colorado securities and consumer protection acts, breach of contract, common law fraud, breach of fiduciary duty, and gross negligence. Per the customer, he/she lost over $100,001 because of Mr. Balser’s actions. On September 8, 2020, Mr. Balser settled the claim for $35,695, and some or all of this amount may have been paid by Mr. Balser’s employer and/or insurance carrier.
In October 2019, a FINRA arbitration was filed against or in reference to Ken Balser by a customer of Cetera Advisors LLC alleging violation of federal and Colorado securities laws, breach of contract, common law fraud, breach of fiduciary duty, and negligence, and gross negligence. Per the customer, he/she lost over $103,664.82 because of Mr. Balser’s actions. On February 20, 2020, Mr. Balser settled the claim for $75,000, and some or all of this amount may have been paid by Mr. Balser’s employer and/or insurance carrier.
In June 2019, a FINRA arbitration was filed against or in reference to Ken Balser by a customer of Cetera Advisors LLC alleging violations of Federal, Colorado, and South Carolina securities laws, violation of Colorado consumer protection act, breach of contract, common law fraud, breach of fiduciary duty, and negligence, and gross negligence. Per the customer, he/she lost over $140,910 because of Mr. Balser’s actions. On February 20, 2020, Mr. Balser settled the claim for $210,000, and some or all of this amount may have been paid by Mr. Balser’s employer and/or insurance carrier.
In October 2018, a FINRA arbitration was filed against or in reference to Ken Balser by a customer of Cetera Advisors LLC alleging unsuitable investment, violation of Wyoming and Colorado securities act, violation of Colorado consumer protection act, breach of contract and fiduciary duty, common law fraud, and negligence. Per the customer, he/she lost over $250,000 because of Mr. Balser’s actions. On February 20, 2020, Mr. Balser settled the claim for $70,000, and some or all of this amount may have been paid by Mr. Balser’s employer and/or insurance carrier.
In January 2017, Colorado Division of Securities initiated a regulatory action against or in reference to Ken Balser for soliciting no less than seventeen (17) clients to invest in Tesoro Del Alma, Inc. (Gold Mine). Those seventeen (17) clients ultimately invested a total of $1,491,600 in Tesoro Del Alma, Inc., between August 2014 and March 2016. Balser solicited these investments without disclosing his activities to his employer member firm.
In December 2016, FINRA initiated a regulatory action against or in reference to Ken Balser. Without admitting or denying the findings, Balser consented to the sanction and to the entry of findings that he refused to appear for testimony and provide documents and information requested by FINRA during the course of an investigation into allegations that he engaged in private securities transactions in violation of his member firm’s policy.
In July 2016, Cetera Advisors LLC terminated Ken Balser for engaging in private securities transactions in violation of firm policy.
How To File A Claim Against Ken Balser (previously with Cetera Advisors LLC, LPL Financial LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated) To Get Your Money Back.
If you have questions about Ken Balser, Cetera Advisors LLC, LPL Financial LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.