Recovery Loss Options for Customers of Sagepoint Financial, Inc. Broker Timothy Vanlohuizen
Posted on Wednesday, January 15th, 2020 at 4:58 pm
Are you interested in learning recovery loss options due to investments with Sagepoint Financial, Inc. broker Timothy Vanlohuizen (CRD# 2166867)? Vanlohuizen has been registered with Sagepoint Financial, Inc. in Coeur D’Alene, Idaho since 2005.
Vanlohuizen has been the subject of six customer complaints between 1999 and 2019, one of which was denied, according to his CRD report. Recent complaints are regarding:
May 2019. “Negligence, suitability, misrepresentation and breach of fiduciary duty claims related to alleged sales of precious metals and oil and gas investments.” The customer is seeking $350,000 in damages and the case is currently pending. The complaint took place while Vanlohuizen was registered with SagePoint Financial, Inc. and was regarding oil and gas investments and mutual funds.
November 2018. “Customer alleges that representative poorly managed retirement account and gave poor advice as to the sustainability of the account once regular withdrawals were initiated.” The customer sought $126,000 in damages and the case was settled for $25,000. The complaint took place while Vanlohuizen was registered with SagePoint Financial, Inc. and was regarding common and preferred stocks and mutual funds.
April 2017. “Customer alleged inaccurate advice was provided in 2014 in connection with a rollover of a defined benefit account.” The case was settled for $13,000. The complaint took place while Vanlohuizen was registered with SagePoint Financial, Inc.
December 2016. “Alleged unsuitable investments.” The customer sought $275,000 in damages and the case was settled for $114,000. The complaint took place while Vanlohuizen was registered with SagePoint Financial, Inc. and was regarding direct investments, high yield bonds, and various energy 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, Sagepoint Financial, Inc. may be liable for investment or other losses suffered by Vanlohuizen’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.