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Were You the Victim of Berthel, Fisher & Company Financial Services, Inc. Broker Jonathan Pyne?

Posted on Saturday, March 30th, 2019 at 10:01 am    

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Erez Law is currently investigating Berthel, Fisher & Company Financial Services, Inc. broker Jonathan Pyne (CRD# 2580510) regarding unsuitable investment recommendations. Jonathan Pyne has been registered with Berthel, Fisher & Company Financial Services, Inc. in Minneapolis, Minnesota since 2007. 

Jonathan Pyne Faces Multiple Customer Complaints

Jonathan Pyne has been the subject of eight customer complaints between 2011 and 2021, two of which were closed without action, according to his CRD report:

April 2021. “The client alleges the investments he purchased in 2014 were unsuitable and misrepresented by the representative. The client also alleges the firm failed to adequately supervise the representative.” The customer is seeking $116,000 in damages. 

September 2020. “The client alleges the investments she purchased between 2010 and 2014 were unsuitable and misrepresented to her by the representative. The client also alleges the firm failed to supervise the activities of the representative and failed to conduct adequate due diligence.” The customer sought $250,000 in damages and the case was settled for $50,000.

January 2019. “The client is upset with the overall performance of his account and alleges the investments he purchased between 2007-2015 were unsuitable and misrepresented by the representative. The client also alleges the firm failed to supervise the actions of the representative.” The customer sought $150,000 in damages and the case was settled for $9,500. This case is regarding oil and gas sector, real estate and business development company losses. 

December 2017. “The client alleges that the representative failed to meet his fiduciary obligation by mismanaging her account and failing to communicate with her that her account was losing money. The client also alleges the representative surrendered her annuity without her permission.” The customer sought $19,250 in damages and the case was settled for $5,416. This case was regarding common and preferred stocks and real estate securities. 

September 2016. “The client is alleging that the investments she purchased in 2008 and 2009 were unsuitable and misrepresented to her by the representative.” The case was settled for $48,175.57. This case was regarding oil and gas sector losses.

April 2014. “The client alleges the investments purchased in 2007 and 2008 were misrepresented and unsuitable. The client also alleges the firm failed to supervise the representative.” The customer sought $250,000 in damages and the case was settled for $110,000.

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 Jonathan Pyne’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.