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Jennifer Lander: Did Lonestar Advisor Recommend Unsuitable Securities?
Addison, Texas financial advisor Jennifer Lander (CRD# 6321163) allegedly made an unsuitable investment recommendation, according to a recent investor complaint against her. Financial Industry Regulatory Authority records show that she is a broker and an investment advisor with Titan Securities, doing business as Lonestar Wealth Advisors.
Ms. Lander’s BrokerCheck report discloses one investor complaint. Filed in May 2022, it alleges that as a representative of Titan Securities, she recommended an unsuitable investment in asset-backed securities. The pending complaint alleges damages of $40,000.
An unsuitable investment or investment strategy, according to FINRA Rule 2111, is one which a broker lacks a reasonable basis to believe is appropriate for the client’s investment profile. An investor’s profile is based on information including their “age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs, risk tolerance,” and more. Brokers like Ms. Lander are required to perform reasonable diligence to determine a customer’s profile; then, they must use this information to make a determination as to whether an investment or strategy is not only suitable for some customers, but the specific customer they’re dealing with. Brokers who fail to recommend suitable investments may be held liable in the event of losses.
According to the Financial Industry Regulatory Authority, Jennifer Lander holds eight years of securities industry experience. Based in Addison, Texas, she has been a broker and an investment advisor with Titan Securities since 2014 and 2015, respectively, doing business as Lonestar Wealth Advisors. Her credentials include the passage of three securities industry qualifying examinations: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. She is licensed in Arkansas, California, Colorado, Florida, Missouri, Nevada, New York, North Carolina, Ohio, Oklahoma, South Carolina, Tennessee, Texas, and Washington. (Information current as of August 7, 2022.)
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.