Update: Bob Wamhoff and VSR Financial Services

AdobeStock_82110313-1-300x125Stoltmann Law Offices continues to investigate Bob Wamhoff, a former registered broker with VSR Financial Services. A former customer of VSR alleged that Wamhoff recommended and sold him unsuitable securities in oil and gas and real estate, and that the securities performed poorly. Another customer of VSR is seeking damages of $50,000 and alleged breach of fiduciary duty, suitability, ongoing fraud, violation of Missouri Securities Act and other claims. Yet another client alleged claims in connection with investments in variable annuities, direct investments, limited partnerships and real estate securities. These are all against securities laws. A broker such as Mr. Wamhoff must do his due diligence on every security he recommends or sells to an investor, and this must be overseen by his investment firm. If he does not, his firm may be liable for losses, because it has a duty to oversee its brokers while they are employed there.
Robert Edward Wamhoff, according to his online BrokerCheck record with the Financial Industry Regulatory Authority (FINRA), was previously registered with Mutual Service Corp in Boston, Massachusetts from October 1990 until October 2004, Commonwealth Financial Network in Waltham, Massachusetts from October 2004 until August 2005 and VSR Financial Services in Saint Charles, Missouri from August 2005 until July 2016. He is currently registered with Calton & Associates in Saint Charles, and has been since July 2016. He has nine customer disputes against him, two of which are currently pending.

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