Robert Burns: $200K Complaint Against Ausdal Advisor

A recent investor complaint against Independence, Ohio financial advisor Robert Burns (CRD# 1286211) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker with Ausdal Financial Partners and an investment advisor with Burns Financial Advisors.

Mr. Burns’s BrokerCheck report discloses three investor complaints. The most recent, filed in July 2026, alleges that as a representative of Burns Financial Advisors, he made excessive trades and did not accurately profile the customer’s account “to be conservative to moderate in risk.” The pending complaint, which stems from investments in exchange-traded funds, alleges damages of $200,000.

An earlier investor complaint, filed in 2014, alleged that as a representative of Burns Financial Advisors and Ausdal Financial Partners, he recommended unsuitable investments in inverse exchange-traded funds. The complaint reached a settlement of $24,000.

A third investor complaint, filed in 2007, alleged that as a representative of LM Kohn & Company and Burns Financial Centre, he made unsuitable investments and mishandled a life insurance policy. The complaint reached a settlement of $55,000.

According to the Financial Industry Regulatory Authority, Robert Burns holds 42 years of securities industry experience. Based in Independence, Ohio, he has been registered as a broker with Ausdal Financial Partners since 2011 and an investment advisor with Burns Financial Advisors since 2018. His past registrations include LM Kohn, Burns Financial Centre, Valmark Securities, Securities Service Network, Chase Global Securities, Delta Equity Services, Commonwealth Equity Services, Lincoln Financial Advisors, The Lincoln National Life Insurance, Kavanaugh Securities, Integrated Resources Equity, UR Financial, and First Investors. His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Securities Industry Essentials Examination, or SIE; the Direct Participation Programs Representative Examination, or Series 22; the General Securities Representative Examination, or Series 7; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 4 state licenses. (Information current as of August 30, 2026.)

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