Former Broker Brian R. Marston Under FINRA Investigation for Alternative Investment Recommendations

Former broker Brian Richard Marston (CRD #733083), previously registered with Woodbury Financial Services, Inc. in Parker, Colorado, is now facing multiple pending customer disputes alleging unsuitable investment recommendations and misrepresentations. Marston, who left Woodbury Financial in December 2023 and is no longer registered with any FINRA member firm, has six customer disputes on record, three of which remain unresolved.

Over a career spanning more than four decades, Marston also held registrations with Pruco Securities, National Planning Corporation and RMIN Securities.

Pending Customer Complaints (2023-2025)

Marston is currently named in three pending FINRA arbitration cases, each alleging unsuitable investment strategies or inadequate disclosure of risk. These claims center on alternative investment products such as real estate investment trusts (REITs), direct participation programs (DPPs) and business development companies (BDCs).

• May 2025: The most recent complaint alleges that Marston recommended unsuitable direct investment programs, including limited partnership interests. The claimant seeks $150,000 in damages, and the case remains pending in Denver, Colorado.
• November 2023: Investors allege misrepresentation and unsuitable recommendations related to alternative real estate investments. The filing, which seeks $37,000 in damages, is part of a broader multi-claimant action.
• August 2023: This complaint centers on an unsuitable recommendation of an alternative investment. The claim requests $60,000 in damages and remains under arbitration.

All three disputes arise from Marston’s time at Woodbury Financial Services and concern the suitability and disclosure of alternative investment products, which have faced growing regulatory scrutiny in recent years.

Prior Complaints and Outcomes

In addition to the three pending arbitration cases, Marston’s record includes several prior disputes tied to alleged unsuitable or misrepresented investment recommendations. While some were resolved or denied, they reinforce a broader history of investor complaints focused on alternative investment products.

• Settled Complaint (2021): A customer alleged that Marston recommended unsuitable alternative investments, including real estate securities and BDCs, purchased between 2015 and 2016. The case was resolved through an $80,000 settlement, with no personal contribution from Marston reported in FINRA’s records.
• Withdrawn Complaint (2021): Another investor claimed that Marston over-concentrated their portfolio in alternative investments deemed unsuitable for their financial objectives. The claim sought $1.7 million in damages but was later withdrawn by the claimant.
• Denied Complaint (2014): A prior case alleged misrepresentation of guarantees tied to an annuity product known as the AutoGuard 5 Rider. The firm investigated and denied the claim, and no compensation was awarded to the client.

Taken together, these historical disputes point to a consistent theme of investor concerns surrounding product suitability, risk disclosure and portfolio concentration — issues that regulators continue to scrutinize in connection with the sale of alternative investment products.

What Investors Should Know

The series of customer disputes involving Marston centers on allegations of unsuitable recommendations in alternative investments, a product category often marketed as conservative but which can carry significant risks.

Products such as DPPs, REITs and BDCs are typically illiquid, high-fee investments that can expose investors to volatility and limited access to funds. These products may not be suitable for individuals seeking stability or liquidity.

Repeated claims of misrepresentation and concentration in alternative products raise concerns about disclosure practices and supervision at Woodbury Financial Services. While no findings of misconduct have been made, investors who purchased such products through Marston should review their portfolios for excessive exposure or underperforming holdings and consider consulting an attorney if they’ve suffered losses.

Speak With Our Securities Law Team

If you invested through Brian Marston or Woodbury Financial Services and suspect that unsuitable or high-risk alternative products were recommended, you may have the right to seek recovery through FINRA arbitration.

At Sonn Law Group, our attorneys represent investors nationwide in claims involving broker misconduct, misrepresentation and failure to disclose investment risks. With decades of combined experience, our firm has helped clients recover millions in losses tied to improper financial advice. We handle all cases on a contingency fee basis, meaning you won’t pay any legal fees unless we successfully obtain compensation for you.

To schedule a free, confidential consultation, call us at 833-912-3000 or complete our online contact form.