Securities Investigation involving suspended VSR Advisor Dennis Van Patter

PLANO, Texas - Feb. 2, 2016 - PRLog -- According to FINRA, Dennis Van Patter (CRD# 1364583) recently entered into a Letter of Acceptance Waiver and Consent (AWC) to resolve allegations that he violated numerous NASD and FINRA rules by recommending investments that were not suitable for his customer.

According to the AWC, while associated with VSR Financial Services, Van Patter allegedly recommended that a customer, a retired commercial pilot, invest $1.614 million in alternative investments such as REITs, note programs, oil & gas drilling partnerships and private placements.

According to Van Patter's FINRA BrokerCheck, he has been the subject of 9 (nine) customer complaints, many of which appear to involve similar allegations as those raised by FINRA in its AWC.

The White Law Group is investigating the liability that VSR Financial may have for failure to properly supervise Van Patter.  Brokerage firms are required to ensure that all recommendations that are made are suitable in light of their client's age, investment experience, net worth, investment objectives, and time horizon.  If a firm permits unsuitable investments to be made, the firm can be held responsible for the losses in a FINRA arbitration claim.

For more information on the firm's investigation, visit http://www.whitesecuritieslaw.com/2016/02/02/investor-ale....

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For a free consultation with a securities attorney, call the firm's Chicago office at 888-637-5510.