According to BrokerCheck records financial advisor Andrew Burdsall (Burdsall), currently employed by Securities America, Inc. (Securities America) has been subject to at least five customer complaints. According to records kept by The Financial Industry Regulatory Authority (FINRA), most of Burdsall’s customer complaints allege that Burdsall invested them in a fraudulent private placement security or made unsuitable investments.
In January 2019 a customer filed a complaint alleging that Burdsall violated the securities laws including that after briefly discussing the possibility of generating a monthly income plan, Burdsall placed unauthorized trades within the client’s account which resulted in a loss to his portfolio. The customer alleges $106,202.16 in damages. The claim is currently pending.
There are also four claims against Burdsall concerning the sale of fraudulent private placements including Provident Shale and Medical Capital.