Silver Law Group is investigating former Plano, Texas-based VSR Financial Services, Inc. (CRD# 14503) broker John H. Towers (CRD# 700221) due to an extraordinarily high amount of FINRA BrokerCheck disclosures alleging unsuitable recommendations and negligence.
According to John H. Towers FINRA BrokerCheck report, Towers has 46 misconduct disclosures, most of which are FINRA arbitrations. All the FINRA arbitrations allege that Towers recommended unsuitable investments and many allege overconcentration, and all but five of the disclosures have come in the last five years.
This is an extraordinary amount of FINRA BrokerCheck disclosures. While one or two complaints over a long period of time in the industry is not unheard of, the complaints Towers has amassed over a short period of time is concerning. Out of the 46, 42 are FINRA arbitrations and 35 of those have settled.