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The White Law Group announces the filing of a FINRA Arbitration claim against Berthel Fisher & Co
FINRA Claim Alleges Over-concentration in High-risk Private Placements
By: The White Law Group
Master Private Equity
The claim seeks damages between $100,000 and $500,000.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.
It is alleged Berthel Fisher & Company Financial Services, Inc. failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.
It is further alleged that the financial advisor that handled the accounts at issue is James Scott McKee. According to the Financial Industry Regulatory Authority, McKee has been the broker of record for at least thirty (30) customer disputes for similar allegations.
"We believe there are many more investors who have suffered losses in high risk private placement investments who just don't realize they have recourse, or may be unaware of any wrongdoing,"
"Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that the financial advisor violated FINRA rules and the employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim."
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information The White Law Group and the claim filed against Berthel Fisher & Company Financial Services, Inc., please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.
The White Law Group