Markus Byrd: Ex-Kestra Advisor Faces iPath Complaint

Dallas, Texas financial advisor Markus Byrd (CRD# 2177376) has received multiple investor complaints alleging that his advice resulted in damages. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the former Kestra Investment Services broker is currently registered as an investment advisor with Candor Wealth Management.

Mr. Byrd’s BrokerCheck report discloses several investor complaints. The most recent, filed in March 2026, alleges that as a representative of Kestra Investment Services, he recommended unsuitable alternative investments. The pending complaint alleges unspecified damages of at least $5,000. “Mr. Byrd is not a party to this case,” reads a statement included with the disclosure. “The products at issue were vetted and approved by the broker dealer, available on its platform, and sold by many advisors to accredited investors.”

An earlier investor complaint, filed in February 2026, similarly alleges that as a representative of Kestra Investment Services, he exercised discretionary authority to purchase an unsuitable exchange-traded fund and provided inaccurate statements about the product’s characteristics and performance. The pending complaint alleges unspecified damages.

A third investor complaint, filed in 2024, alleged that as a Kestra representative, Mr. Byrd misrepresented and recommended an unsuitable exchange-traded note product. In 2025 the complaint reached a settlement of $3.3 million.

A fourth investor complaint, filed in 2023, alleged that as a Kestra representative, he recommended an unsuitable ETN product and over-concentrated the customer’s account. In 2024 the complaint reached a settlement of $705,000. “I am not a party to this case and was not named as a respondent,” he wrote in a statement included with the disclosure. “The investments at issue were appropriate when made.”

An article published in Financial Advisor on June 5, 2026 contextualizes the allegations against Mr. Byrd in the pending complaint filed in February 2026.According to the article, the complaint relates to investments in iPath Series B S&P 500 VIX Short-Term Futures ETNs issued by Barclays. “These notes,” the article states, “which are a bet on market volatility, are described as highly risky, riskier than ordinary unsecured debt securities, and, as Barclays itself says on its website, offering no principal protection.” Barclays reportedly stopped issuing the notes in 2022, informing investors that it no longer had “sufficient issuance capacity to support further sales from inventory and any further issuances of the ETNs.”

According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Markus Byrd holds 34 years of securities industry experience. Based in Dallas, Texas, he has been registered as an investment advisor with Candor Wealth Management since 2024. His past registrations include Kestra Investment Services, NFP Securities, INVEST Financial, and Ameriprise. He is licensed in Texas. (Information current as of June 7, 2026.)

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