Investigation of Berthel, Fisher & Company Financial Services, Inc. Broker Vincent Bailey

Berthel, Fisher & Company Financial Services Inc.

Erez Law is currently investigating Berthel, Fisher & Company Financial Services, Inc. broker Vincent Bailey (CRD# 1845517) regarding unsuitable investment recommendations. He has been registered with Berthel, Fisher & Company Financial Services, Inc. in Geneva, Illinois since 2003. 

In May 2009, the State of Illinois Department of Financial & Professional Regulation Division of Insurance sanctioned him to pay a $5,000 civil and administrative penalty and fine related to “misleading misrepresentations and failed to properly identify himself on advertisements sent to insurance clients. “

Vincent Bailey Customer Complaints

He has been the subject of two customer complaints between 2019 and 2022, according to his CRD report:

May 2022. “The claimants allege the investments purchased in 2010-2015 were overconcentrated, unsuitable, and misrepresented to them by the representative. Additionally, the claimants allege the firm failed to conduct due diligence of the investments and failed to supervise the activities of the representative.” The case is currently pending. The complaint was regarding oil and gas investments and real estate securities. 

July 2019. “The claimants allege that the investments purchased between 2007-2008 were unsuitable and misrepresented to them by the representative. The Claimants also allege that the firm failed to supervise the actions of the representative.” The customer sought $750,000 in damages and the case was settled for $50,000. The complaint was regarding oil and gas investments, real estate securities, and direct 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 & Company Financial Services, Inc. may be liable for investment or other losses suffered by Vincent Bailey’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.