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Bob Lorente: $250K REIT Complaint Against Aurora Advisor
A recent investor complaint against Troy, Michigan financial advisor Bob Lorente (CRD# 1425180) alleges that he recommended unsuitable real estate investment trusts (REITs). Financial Industry Regulatory Authority records show that he is registered as a broker with Aurora Securities and an investment advisor with Secure Asset Management.
Mr. Lorente’s BrokerCheck report discloses two investor complaints. The most recent, filed in May 2023, alleges that as a representative of Great Point Capital, he recommended unsuitable REITs, acted negligently, breached contract, misrepresented and omitted material facts, committed fraud, and breached his fiduciary duty. The pending complaint alleges damages of $250,000.
An earlier investor complaint, filed in 2021, alleged that as a Concorde Investment Services representative, he acted negligently, misrepresented and omitted material facts, and breached contract in connection with a real estate investment in July 2016. In 2022 the complaint reached a settlement of $12,000.
According to the Financial Industry Regulatory Authority, Bob Lorente holds 36 years of securities industry experience. Based in Troy, Michigan, he has been a broker with Aurora Securities and an investment advisor with Secure Asset Management since 2022. His past registrations include Concorde Investment Services (Livonia, Michigan; 2022), Great Point Capital (Northville, Michigan; 2019-2020), Cambridge Investment Research (Livonia, Michigan; 2018-2019), Concorde Investment Services (Novi, Michigan; 2014-2017), Northstar Financial Partners (Northville, Michigan; 2005-2013), Multi-Financial Securities Corporation (Greenwood Village, Colorado; 2004-2005), SII Investments (Appleton, Wisconsin; 1997-2004), Mariner Financial Services (Largo, Florida; 1992-1997), Hamilton Investments (1989-1992), Korn Womak Stern & Associates (1986-1989), and Busch Financial Group (1985-1986). His credentials include the passage of eight securities industry qualifying exams: the General Securities Sales Supervisor Examination (Options Module & General Module), or Series 8; the Registered Options Principal Examination, or Series 4; the General Securities Principal Examination, or Series 24; the General Securities Sales Supervisor – Options Module Examination, or Series 9; the General Securities Sales Supervisor – General Module Examination, or Series 10; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Michigan. (Information current as of October 28, 2023.)
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