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FINRA Bars Ken Balser After Investigation into Private Securities Transactions

FINRA barred ex-Cetera Advisors LLC broker Kenneth Alan Balser of the firm's Colorado Springs branch in connection with an investigation into private securities transactions. FINRA's decision to bar Balser comes six months after Cetera Advisors discharged him for engaging in private securities transactions in violation of firm policy.

FINRA AWC #2016050727001

The report states that Balser (CRD #704053) refused to appear for testimony and provide requested information in connection with FINRA's investigation into allegations that Balser engaged in private securities transactions in violation of Cetera's policy.

In accepting and consenting to the investigative report and industry ban, Balser did not admit nor deny FINRA's findings.

Balser's BrokerCheck report indicates prior employment with LPL Financial's Colorado Springs branch prior to registering with Cetera in October 2013.

The detailed report also indicates "Dave Ramsey Radio Show sponsor" under the Other Business Activities section, listing the specific activity associated with the radio show as, "endorsed financial advisor for a monthly fee...counsel referrals on financial planning under DBA."

According to its website, The Dave Ramsey Show is a financial-oriented show, featuring "real life and money from America's most-trusted money expert!"

Balser's listed DBA, also under the Other Business Activities section, is the investment-related Secure Wealth Management, of which Balser is managing partner and investment advisor.

Secure Wealth Management's website indicates an arrangement whereby it clears trading activities through Cetera Advisors. As of December 20, 2016, it also links to the BrokerCheck homepage with instructions to enter Balser's CRD number (#704053) to "verify that there have been no client complaints" (there have not, just a termination, and, now, bar from the industry).

Regulators have a history of sanctioning registered representatives, associated with radio shows, who provide misleading advice or advertising over the air. In 2015, for instance, Securities America advisor Barry Graham Armstrong's "Alzheimer's Campaign" became the subject of an aggressive Massachusetts-led complaint against Armstrong's radio advertisements, while the SEC charged NFS Group's Christopher Novinger and Brady Speers with fraudulently offering and selling life settlement interests on their weekly "Retirement Experts Radio Show."

FINRA's findings do not state whether Balser's business activity in connection with the broadcast show is related to the private securities transaction under investigation for possible violation of Cetera policy and its decision to ban Balser from associating with any FINRA-member firm.

If you have invested with Kenneth Alan Balser, formerly of Colorado Springs' Cetera Advisors, and managing partner of Secure Wealth Management, or have invested with any broker or financial adviser whose private securities transaction activity in contravention of firm policy has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.

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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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