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Steven Baumrucker: Complaints Against Adams Brown Advisor
Hays, Kansas financial advisor Hays Baumrucker (CRD# 4055316) allegedly recommended unsuitable investments, according to investor complaints against him. Financial Industry Regulatory Authority records show that he is a broker with Private Client Services in Hays and an investment advisor with Adams Brown Wealth Consultants in Great Bend, Kansas.
Mr. Baumrucker’s BrokerCheck report discloses two investor complaints. The most recent, filed in May 2022, alleges that as a representative of Avantax Investment Services, he recommended an unsuitable direct investment. (FINRA Rule 2111 mandates that financial advisors recommend only investments that are in keeping with, or suitable for, their customers’ background and objectives.) The pending complaint alleges damages of $25,000.
A second investor complaint, filed in July 2020, alleged that as a representative of HD Vest Investment Services, he recommended an unsuitable alternative investment. In March 2021 the complaint reached a settlement of $11,500.
According to the Financial Industry Regulatory Authority, Steven Baumrucker holds 21 years of securities industry experience. Based in Hays, Kansas, he has been a broker with Private Client Services and an investment advisor with Adams Brown Wealth Consultants since 2020. He was previously registered with Avantax Investment Services in Hays, Kansas from 2001 until 2020. His credentials include the passage of four 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; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in California, Colorado, Florida, Kansas, Kentucky, Missouri, Nebraska, Oklahoma, Pennsylvania, and Texas. (Information current as of September 26, 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.