Tri-Star’s Mark Rothstein Has $500,000 REIT Complaint
Tri-Star Financial stockbroker Mark Rothstein (CRD# 1084659), whose firm offers securities through Independent Financial Group, has received a pending investor complaint alleging six-figure losses. Financial Industry Regulatory Authority records show that he is based in El Segundo, California.
Mark Rothstein’s BrokerCheck report lists one pending investor complaint. Filed in 2021, it alleges that as a representative of Independent Financial Group, he over-concentrated the claimant’s investments in non-traded real estate investment trusts (REITs), and that he recommended an unsuitable variable annuity product. The pending complaint alleges damages between $100,000 and $500,000.
“[The] Claim will be defended as without merit,” Mr. Rothstein stated in a comment about the pending 2021 complaint against him. He added: “Preliminary investigation reveals client was informed of, and agreed to, risks associated with products purchased. Investments appear to be in line with client’s stated investment objectives, time horizon and risk tolerance.”
His BrokerCheck report also lists one customer complaint that reached a settlement. Filed in 2008, the complaint alleged that as a representative of LPL Financial, he did not correctly represent the “percentage of benefit feature” of a variable annuity. The complaint reached a settlement of $10,500, with a Broker Statement on the disclosure reading that LPL “determined no wrongdoing on part of representative.”
Mr. Rothstein’s affiliation with LPL Financial ended with his termination in 2010, according to his BrokerCheck report. The disclosure states that LPL discharged him after he allegedly failed to follow firm policies “regarding advertising review and outside business activities.”
According to the Financial Industry Regulatory Authority, Mark Rothstein holds 39 years of securities industry experience. He is affiliated with Tri-Star Financial, offering securities and advisory services through Independent Financial Group, in El Segundo, California. His past registrations include Purshe Kaplan Sterling Investments (El Segundo; 2013), Centaurus Financial (El Segundo; 2010-2013), Mr. Money Talks (El Segundo; 2008-2010), LPL Financial (El Segundo; 1992-2010), Harmony Financial Advisors (Los Angeles, California; 2006), Triple Check Financial Services (1983-1992), Sentra Securities Corporation (1984-1986), and EAC Securities (1982-1983). His credentials include the passage of four securities industry qualifying exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the General Securities Principal Examination, or Series 24. He holds 32 state licenses. (Information current as of April 1, 2022.)
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