Berthel Fisher Accused of Alternative Investments and Private Placements

Berthel, Fisher & Company Financial Services Inc.

Erez Law is currently investigating Berthel Fisher and its brokers across the country, who allegedly recommended their clients invest in alternative investments and private placements.

In 2022, investors filed a claim against Berthel Fisher for $32.1 million, according to the firm’s annual audited financial statements filed in December 2022 with the Securities and Exchange Commission (SEC). 

The audit also reported that open claims range from $1.1 to $4.9 million in damages, with a total of $32.1 million in claims at the end of 2022, according to the filing. The SEC filing also reported that Berthel Fisher accrued $315,000 in accounts payable and other accrued expenses related to these cases, including insurance, damages, and legal costs related to these claims.

Regrettably, for inventors, this is not the first time the firm has received regulatory action related to these investments. In 2018, FINRA censured and fined Berthel Fisher $675,000 related to its sale of non-traded real estate investment trusts (REITs) and alternative investments. Alternative investments are known to be expensive and volatile, at times, for many investors. 

In 2019, FINRA arbitrators awarded a group of six investors $1.16 million in a case related to the sale of inappropriate complex investments.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Berthel Fisher may be liable for investment or other losses suffered by its customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

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