Are you an investor who has worked with Russell Edward Fieger—also known as Russ Fieger—based in Overland Park, Kansas? If so, Haselkorn & Thibaut, a national securities fraud law firm with a 98% success rate and decades of experience, has recently launched an investigation into potential claims involving this financial advisor and his broker-dealer affiliations.
Making informed investment decisions is essential, especially when your financial future and retirement goals are on the line. If you have concerns or questions regarding your experience with Russell Fieger at Colorado Financial Service Corporation or other firms, you are not alone. Below, we provide a comprehensive overview of his professional background, a detailed look at all complaints and disputes, and the potential implications for investors.
About Russell Edward Fieger – Experience and Background
- Name: Russell Edward Fieger (Russ Fieger)
- Location: Overland Park, Kansas
- CRD Number: 4122326
- Industry Experience: 24 years
- Total Firms Worked With: 6
- Current Role: Registered Investment Advisor (not currently a registered broker)
- Current Broker-Dealer: Colorado Financial Service Corporation
- Longstanding Advisor Registration: Cornerstone Securities LLC since 2006
Over his career, Mr. Fieger has built significant experience. However, his regulatory record reflects certain areas of concern for investors.
Disclosures: A Detailed List of Complaints and Regulatory Actions
It is important for investors to have a clear understanding of a financial advisor’s history. Russell Fieger’s record reflects three major disclosures, which are outlined below in detail:
| Date | Type | Status | Allegations/Details | Resolution/Amount |
|---|---|---|---|---|
| Nov 7, 2024 | Customer Dispute | Pending | Allegations of breach of fiduciary duty, lack of suitability, impermissible overconcentration, and misrepresentation/omission concerning an alternative investment (oil & gas DPP/LP interests; $25,000 investment in 2015). Currently under arbitration. The claim seeks $325,000 in damages. | Pending |
| Mar 18, 2014 | Regulatory Action | Final | Kansas Securities Regulator alleged purchase of ETF funds was unsuitable and a breach of fiduciary duty. Action resolved via consent order. | Restitution: $86,600 |
| Dec 15, 2010 | Customer Dispute | Settled | Allegations of unsuitable investments. | Settlement: $86,600 |
What Do These Disclosures Mean For Investors?
Every investor deserves suitable investment recommendations and honest communication from their advisor. The disclosures in Mr. Fieger’s record—spanning from 2010 through 2024—share common threads, including allegations of unsuitable investments and breach of fiduciary duty. Of particular note:
- Pending 2024 arbitration involves a substantial claim ($325,000) regarding an alternative investment, raising suitability and fairness concerns.
- 2014 Kansas regulatory action required Mr. Fieger to pay restitution following a finding that certain ETF funds purchased were unsuitable for the client.
- 2010 customer dispute ended with a sizable settlement, again tied to questions about suitability.
These issues highlight a pattern that investors should review carefully. Suitability and proper disclosure are fundamental standards in the financial industry.
Professional Movements and Broker-Dealer Affiliations
- Most of Mr. Fieger’s career was centered in Overland Park, Kansas, providing investment services linked to various broker-dealers and registered investment advisors (RIAs).
- His recent history shows multiple firm changes in 2024, including a brief stint with LPL Financial LLC and then Colorado Financial Service Corporation.
- Earlier, he worked at firms such as Crown Capital Securities, Brookstone Securities (expelled by FINRA in 2012), Cambridge Investment Research, and Pruco Securities.
- Mr. Fieger is no longer a FINRA-registered broker, though he remains an investment advisor representative.
For the full regulatory history, investors can also consult his BrokerCheck profile online.
Key Risk Factors Identified
- Pending arbitration with significant damages sought ($325,000).
- History of suitability and fiduciary duty violations or allegations over a 14-year span.
- Previous regulatory enforcement and multiple client complaint settlements involving thousands of dollars in restitution and/or settlement.
- Affiliation with a broker-dealer expelled by FINRA is an additional factor worth noting.
Mitigating Factors
- Lengthy tenure as an investment advisor with Cornerstone Securities since 2006.
- 24 years overall industry experience, representing a broad exposure to clients and market cycles.
- Many years serving clients in the same geographic area, indicating market familiarity.
What Should Investors Do Next?
If you are a current or former client of Russell Edward Fieger or invested through Colorado Financial Service Corporation or other affiliated firms and have questions about your accounts, Haselkorn & Thibaut encourages you to seek guidance. Even if you are unsure whether your situation qualifies, the firm offers a free, no-obligation consultation to review your options—there are no fees unless there is a recovery.
Contact Haselkorn & Thibaut Today – Protect Your Investments
With offices nationwide and over 50 years of combined experience, Haselkorn & Thibaut has helped countless investors recover millions in losses related to unsuitable advice, misrepresentation, and breaches of fiduciary duty. Don’t wait—your financial security is too important to risk.
Get your free case review by calling 1-888-885-7162 today. Every call is confidential, and there is never a charge unless you recover lost funds.
If you are concerned about your experience with Russell Edward Fieger or your investments with Colorado Financial Service Corporation in Overland Park, Kansas, reach out now to understand your rights and options. Help is just a phone call away.
