Update: $450,000 Complaint Against VSR’s Scott Kaup

Scott Kaup

Public records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 13, 2019 indicate that Nebraska-based Summit Brokerage Services broker/adviser Scott Kaup recently received a new pending customer dispute. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Kaup (CRD# 1002907).

Scott Kaup has spent 37 years in the securities industry and has been registered with Summit Brokerage Services in Stuart, Nebraska since 2016. Previous registrations include VSR Financial Services in Stuart, Nebraska (1989-2016); American General Securities in Phoenix, Arizona (1987-1989); VSR Financial Services (1984-1987); and St. Paul Investors (1981-1984). He has passed five securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 15, 1990; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; Series 31 (Futures Managed Funds Examination), which he obtained on August 4, 1998; Series 7 (General Securities Representative Examination), which he obtained on November 16, 1985; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on August 13, 1981. He is a registered broker and investment adviser with 21 US states and territories.

According to his BrokerCheck report, he has received one customer complaint and two pending customer complaints.

In January 2019 a customer alleged Scott Kaup, while employed at VSR Financial Services, made unsuitable investment recommendations, misrepresented and omitted material facts, and committed supervisory due diligence failures. The customer is seeking $450,000 in damages in the pending complaint.

In 2018 a customer alleged Scott Kaup, while employed at VSR Financial Services, failed to supervise, made misrepresentations and omissions of material facts, and made unsuitable investment recommendations. The customer is seeking $2,600,000 in damages in the pending complaint.

In 2016 a customer alleged Scott Kaup, while employed at VSR Financial Services, recommended unsuitable securities, committed fraud, breached his fiduciary duty, and engaged in negligent conduct customer. The complaint settled for $173,000.

If you or someone you know has complaints regarding Scott Kaup, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recover lost funds. All cases are taken on a contingency basis: we only receive payment if and when you collect money. Time to file your claim may be limited, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.