Can I recover losses from investments with Berthel, Fisher & Company Financial Services, Inc. broker Joseph Weinbauer (CRD# 2714070) who is alleged to make unsuitable investment recommendations. He has been registered with Berthel, Fisher & Company Financial Services, Inc. in St Louis, Missouri since 2010 and BFC Planning, Inc. in St. Louis, Missouri since 2016.
Joseph Weinbauer Customer Complaints
He has been the subject of three customer complaints between 2018 and 2022, according to his CRD report:
May 2022. “The claimant alleges the investment he purchased in 2014 was overconcentrated, unsuitable, and misrepresented to him by the representative. Additionally, the claimant alleges the firm failed to conduct due diligence of the investment and failed to supervise the activities of the representative.” The case is currently pending. The complaint was regarding oil and gas losses.
July 2021. “The clients claim pertain to investments purchased between 2014-2015 alleging negligent management, unsuitable recommendations, misrepresentations, and overconcentration of the investments, including various non-conventional investments and other claims (which were not specified).” The customer sought $215,000 in damages and the case was settled for $190,000. The complaint was regarding direct investments, real estate securities, and business development companies.
April 2018. “The client through his attorney, alleges that in 2010 the representative surrendered his variable annuity at a loss to purchase a non-traded investments from 2010-2014 that were unsuitable and misrepresented to him. The client also alleges his portfolio was over concentrated in non-traded investments. The client also alleges the firm failed to supervise the actions of the representative.” The customer sought $80,000 in damages and the case was settled for $14,900. The complaint was regarding variable annuities, real estate securities, and business development companies.
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 & Company Financial Services, Inc. may be liable for investment or other losses suffered by Joseph Weinbauer’s 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.
Did You Lose Money Investing with Robert Vance?
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 below for a free consultation.
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