Brian Stern: $845K Complaint Against Advanced Financial Advisor

Rochester, Minnesota financial advisor Brian Stern (CRD# 3137402) recently received an investor complaint alleging that his conduct resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Osaic Wealth, having previously been registered with Signator Investors and TransAmerica Financial Advisors. He is also an advisor with Advanced Financial Consultants, which offers securities through Osaic Wealth, according to its website.

Mr. Stern’s BrokerCheck report discloses one investor complaint. Filed in August 2023, it alleges that as a representative of TransAmerica Financial Services, advised a client’s widow to surrender the client’s annuity and then sold her unsuitable products, including variable annuity and real estate investments. The pending complaint alleges damages of $845,000.

As his profile on Advanced Financial Consultants’ website reflects, Mr. Stern holds a degree in Business Administration from the University of Wisconsin-Stout. “Brian has years of experience in a variety of financial planning aspects,” the profile states, “such as helping build and preserve wealth, managing assets, retirement planning, college funding, life insurance and designing executive compensation plans.”

According to the Financial Industry Regulatory Authority, Brian Stern holds 25 years of securities industry experience. Based in Rochester, Minnesota, he has been a broker and an investment advisor with Osaic Wealth since 2018. His past registrations include Signator Investors (Rochester, Minnesota; 2016-2018) and TransAmerica Financial Advisors (Rochester, Minnesota; 1998-2016). His credentials include the passage of five securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, Iowa, Minnesota, North Dakota, Texas, and Wisconsin. (Information current as of November 13, 2023.)

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