The Securities Law Firm of Menzer & Hill, P.A., is investigating VSR Financial Services ("VSR") and Michael David Shaw related to sales practice violations. On May 15, 2013, VSR agreed to pay a fine of $550,000 related to allegations that the Firm failed to adequately supervise their advisors.
Many alternative investments contain substantial risks which are generally not suitable for most investors. Alternative investments include, but are not limited to: REITs, Hedge Funds and Private Placements.
Under FINRA rules and regulations, VSR may be held liable for losses sustained by their customers, if the Firm's advisors failed to properly disclose all risks related to investments they solicit or by failing to properly diversify client accounts.
Contact a Securities Attorney if you sustained losses with VSR Financial Services or through Michael David Shaw.