Real Estate Transitions Solutions Founder Roger Bowlin Faces Complaints at FINRA

According to records accessed from FINRA on February 11, 2026, Real Estate Transitions Solutions founder, Roger Bowlin (CRD # 1905652[1]) faces multiple investor complaints over real estate transactions with investors.  The events were disclosed on Mr. Bowlin’s public securities license, which is updated through the Financial Industry Regulatory Authority.

If you or someone you know lost money investing in a Delaware Statutory Trust (DST) or any other real estate investment through Real Estate Transition Solutions[2] or Roger Bowlin, contact our attorneys at 800-767-8040 for a free and confidential case review.

Did Real Estate Transition Solutions Conduct Reasonable Due Diligence?

Real Estate Transaction Solutions publicly advertises that it maintains a dedicated due diligence department. That representation is significant.

Broker-dealers who sell syndicated 1031 investments, such as DSTs, cannot treat them as simple real estate transactions.  They are securities, and that triggers serious legal obligations. Before recommending a DST, the firm must conduct independent, documented due diligence into the sponsor’s background, prior performance, property fundamentals, debt load, projected cash flow, fees, conflicts of interest, and exit strategy. It is not enough to rely on glossy offering memoranda or sponsor assurances. Under FINRA Rule 2111 (suitability) and Rule 3110 (supervision), the firm must both understand the investment itself and determine that it is appropriate for the specific client’s financial condition, liquidity needs, risk tolerance, and investment objectives. This includes reasonable due diligence into the following areas:

• Sponsor & Management Review – A firm should thoroughly investigate the sponsor’s background, experience, prior performance, and any regulatory or litigation history to assess credibility and competence.
• Financial & Structural Analysis – The offering’s debt load, projected cash flow, fee structure, and underlying assumptions must be examined to determine whether returns are realistic and sustainable.
• Risk & Suitability Assessment – The investment’s liquidity limits, market exposure, and downside risks must be clearly understood and evaluated against the specific investor’s age, financial condition, and need for income or capital preservation.
• Ongoing Monitoring & Red Flag Review – Due diligence does not end at sale; firms should monitor performance, regulatory developments, and material changes that could impact investors, and take action if warning signs emerge.

This obligation is especially critical when DSTs are sold to retirees in connection with 1031 exchanges. Many investors are seniors seeking stable income and capital preservation after selling long-held real estate. If a broker, such as Roger Bowlin, recommends a highly leveraged, illiquid DST with optimistic projections, without fully disclosing risks, the harm can be catastrophic. When elderly investors[3] lose retirement savings due to unsuitable DST recommendations, those failures may form the basis of claims for negligence, failure to supervise, misrepresentation, or securities fraud.

Roger Bowlin’s Complaints with FINRA

Roger Bowlin (CRD #1905652[4]) has been registered in the securities industry since 1988. According to FINRA records, he is currently affiliated with Aurora Securities, Inc. as a registered representative and with Secure Asset Management, L.L.C. as an investment adviser representative. In addition to traditional securities offerings, Bowlin offers alternative investment products, including Delaware Statutory Trusts (DSTs), through a real estate-focused platform known as Real Estate Transaction Solutions. Because DSTs are structured as securities rather than direct real estate purchases, they must be sold through licensed securities professionals and are subject to FINRA oversight and suitability rules. His BrokerCheck profile reflects five pending customer dispute disclosures related to alleged unsuitable investment recommendations and account mismanagement involving real estate securities

The Financial Industry Regulatory Authority (FINRA) is a congressionally authorized self-regulatory organization that oversees broker-dealers and their registered representatives in the United States. FINRA is responsible for licensing brokers, enforcing industry rules, administering qualification exams such as the Series 7 and Series 63, monitoring compliance with federal securities laws, and operating the public disclosure database known as BrokerCheck. It also administers FINRA arbitration, which is the primary forum for resolving disputes between investors and brokerage firms. FINRA’s role is regulatory and supervisory, it does not guarantee investments or returns, but it does require transparency and compliance with suitability and disclosure obligations.

Delaware Statutory Trusts are commonly used in 1031 exchanges and are often marketed to investors seeking tax deferral, passive income, and exposure to institutional real estate assets. While DSTs can provide diversification and income potential, they also carry specific risks. These include limited liquidity, long holding periods, sensitivity to market conditions, property-level risk, and sponsor performance risk. Unlike publicly traded securities, DST interests are typically illiquid and may not be easily sold prior to the conclusion of the investment term. As securities products, they require a suitability analysis tailored to the investor’s financial profile, investment objectives, and liquidity needs.

FINRA requires brokers to disclose certain events on their regulatory filings, including customer complaints, arbitrations, regulatory actions, and certain financial matters. These disclosures are reflected in BrokerCheck. A customer dispute disclosure does not automatically establish wrongdoing; it indicates that a formal complaint or arbitration was filed that met reporting thresholds. Investors reviewing any broker’s history should consider the number of disclosures, the nature of the allegations, whether the matters are pending or resolved, and the types of products involved.

Contact MDF Law about Real Estate Transition Solutions or Roger Bowlin

If you purchased a DST through Roger Bowlin or Real Estate Transition Solutions, you may be able to sue for money damages if you believe the firm was negligent in conducting its due diligence. Firms that market “robust vetting” and internal review processes can be held accountable if those safeguards were not meaningfully applied. If you or a loved one, especially a retiree, suffered losses, contact MDF Law today to speak with an experienced securities fraud and elder fraud attorney. Case reviews are confidential, and there is no fee unless we recover money for you.