Brian Barber: Lake Financial Advisor Received Trading Complaint

A recent, denied complaint against Port Washington, Wisconsin financial advisor Brian Barber (CRD# 5397025) alleged that he made excessive trades. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Equitable Advisors, doing business as Lake Financial Group.

Mr. Barber’s BrokerCheck report discloses one investor complaint. Filed in April 2026, it alleged that as a representative of Equitable Advisors, he made excessive trades, misrepresented material facts, and recommended unsuitable stock investments. The complaint alleged unspecified damages and was denied by the firm.

For reference, a FINRA resource released in 2020 describes excessive trading, also known as quantitative unsuitability, as “the situation where a broker makes a large number of trades in a customer’s account not to benefit the customer but to generate commissions for the broker.” It is similar to but distinct from churning, a more severe form of excessive trading in which a broker conducts the allegedly excessive trades “with either an intent to defraud or with reckless disregard for the customer’s interests.” More information on potential red flags of excessive trading can be found via FINRA.

For reference, securities industry rules and regulations forbid brokers like Mr. Barber from misrepresenting of material facts regarding investments and strategies they recommend to their clients. FINRA Rule 2020 specifically stipulates that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” A material fact is a piece of information that would pose a significant consideration to investors considering a product or strategy: whether their principal investment would be protected, for instance, or whether the investment is risky. Brokers who misrepresent investments may be liable in the event of losses.

According to the Financial Industry Regulatory Authority, Brian Barber holds 18 years of securities industry experience. Based in Port Washington, Wisconsin, he has been registered as a broker and an investment advisor with Equitable Advisors since 2007 and 2011, respectively, doing business as Lake Financial Group. His credentials include the passage of five securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He is licensed in Colorado, Florida, Idaho, Illinois, Maryland, Michigan, Minnesota, New York, North Carolina, Ohio, Tennessee, Washington, and Wisconsin. (Information current as of June 7, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.