STEPHAN COPELAND BARTON is currently employed as a Broker and/or Investment Adviser at LPL FINANCIAL LLC located at 8283 DUNWOODY PL, BLDG 16, ATLANTA, GA, 30350.
STEPHAN COPELAND BARTON has worked at LPL FINANCIAL LLC since March 25, 2011
STEPHAN COPELAND BARTON has 2 Disclosure Event(s).
Date: January 30, 2013 Category: Customer Dispute Allegations: CUSTOMERS ALLEGE THAT UNSUITABLE INVESTMENTS. ACTIVITY PERIOD 2006 TO 2009 Damage Amount Requested: $640,000.00 Settlement Amount: $105,000.00 Broker Comment: CLAIMANTS AND RESPONDENT JOINTLY SIGNED A BINDING LEGAL AGREEMENT TO SETTLE THIS DISPUTE ON 4/7/14. HAVING REFUTED THE CLAIMS, RESPONDENT AGREED TO PAY $52,500 SOLELY TO AVOID INCREASED EXPENSES AND TIME FROM CONTINUED ARBITRATION. AT NO TIME WAS LIABILITY ESTABLISHED OR ADMITTED.
Date: August 13, 2012 Category: Customer Dispute Allegations: TRUSTEE OF DBSI PRIVATE ACTIONS TRUST ALLEGES LOSSES RESULTING FROM THE FRAUDULENT MARKETING AND SALE OF DBSI SECURITIES. Settlement Amount: $750.00 Broker Comment: THIS LAWSUIT IS RELATED TO A SUCCESSFUL REAL ESTATE COMPANY CALLED DBSI THAT BECAME FRAUDULENT AND INVOLVES THOUSANDS OF INVESTORS NATIONWIDE. THE SUIT WAS FILED BY THE BANKRUPTCY TRUSTEE OF THE PRIVATE ACTIONS TRUST. THIS TRUST WAS ONLY FORMED TO SUE THE REGISTERED REPS AND BROKER-DEALERS WHO SOLD PRODUCTS FROM THE DBSI REAL ESTATE COMPANY IN BOISE, IDAHO. THE SUIT ALLEGES THAT BROKER-DEALERS AND THEIR REPS CONCEALED AND MISREPRESENTED MATERIAL FACTS; FAILED TO CONDUCT REASONABLE AND PROPER DUE DILIGENCE; AND INTENTIONALLY MISLED INVESTORS. HERE ARE THE FACTS: (1)THE MICK LAW FIRM CONDUCTED EXTENSIVE DUE DILIGENCE FOR OUR BROKER-DEALER (QA3), AND PROVIDED A FAVORABLE, WRITTEN REPORT TO QA3 REPS. (2) IN ADDITION, I PERSONALLY MADE 4 AIR TRAVEL TRIPS (6/5/2006; 8/3-5,2006; 10/8-9,2006; 11/21-22,2006) TO BROKER-DEALERS WHO HAD DONE EXTENSIVE BUSINESS WITH DBSI FOR AS MANY AS 15 YEARS, AND RECEIVED GLOWING REPORTS OF PROGRAMS COMPLETED AS ADVERTISED. I RECEIVED THIS INFORMATION FROM COMPLIANCE OFFICERS AND CEO'S OF THE BROKER-DEALERS. (3) I VISITED DBSI'S HOME OFFICE WITH MY BRANCH MANAGER TO CONDUCT DUE DILIGENCE IN PERSON FOR 3 DAYS IN JANUARY OF 2007. I HAVE APPROXIMATELY 30 PAGES OF NOTES IN MY NOTEBOOK WHERE WE EXAMINED RECORDS OF SUCCESSFULLY COMPLETED PROGRAMS, RETURNS, LEVERAGE, EASE OF BUSINESS, ADMINISTRATION, TAXATION, AND QUALIFICATIONS OF DBSI'S LEADERSHIP. I HAVE RETAINED COPIES OF DBSI WRITTEN REPORTS OF SAME. I PERSONALLY QUERIED THE DBSI EXECUTIVE VP OF MARKETING AND DEVELOPMENT, AND PARTIAL OWNER, FOR OVER 3 HOURS CONCERNING THE 2006 NOTES PROGRAM AND 2007 LAND IMPROVEMENT AND DEVELOPMENT FUND. I ALSO MET WITH OTHER BROKER-DEALER REPS IN BOISE WHO HAD DONE BUSINESS WITH DBSI FOR OVER 10 YEARS WITH VERY FAVORABLE RESULTS. (4) PRIOR TO ANY CLIENT INVESTMENT, I INVESTED MY PERSONAL IRA FUNDS TOTALING $120,000 INTO THE 2006 NOTES PROGRAM AND I HAVE LOST 97% MY MONEY. IF I HAD ANY KNOWLEDGE THAT DBSI WAS OR WOULD BE INVOLVED IN MALFEASANCE, I WOULD NOT HAVE INVESTED $120,000 OF MY OWN MONEY. (5) MY CLIENT HAS BEEN INCLUDED IN THE PRIVATE ACTIONS TRUST AGAINST HIS WILL. HE HAS RETAINED HIS OWN LEGAL COUNSEL AND FILED A SWORN AFFIDAVIT STATING THAT HE NEVER INTENDED TO BE A PART OF THE TRUST, DEMANDS THAT HE BE REMOVED FROM IT, AND THAT IF HE SIGNED ANY DOCUMENT INDICATING HIS DESIRE TO BE A PART OF THE TRUST, IT WAS DUE TO THE COMPLEX AND CONFUSING COMMUNICATIONS FROM THE BANKRUPTCY TRUSTEE. HE FURTHER STATES THAT HE HAS NO COMPLAINT WITH ME, AND CONTINUES TO BE AN ACTIVE CLIENT OF MINE. DBSI'S PROGRAMS WERE GOOD INVESTMENTS FOR MANY YEARS, BUT WHEN THE REAL ESTATE MARKET COLLAPSED IN 2008, SO DID DBSI AND A LOT OF PEOPLE LOST THEIR MONEY (INCLUDING ME).
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A disclosure includes information about customer disputes, disciplinary events and financial matters on the broker's record as reported by securities regulators, the individual broker, and any involved firms. Some of these items may involve pending actions or allegations that have not been resolved or proven. The presence of a disclosure does not automatically indicate any wrongdoing.
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