National investment fraud lawyers KlaymanToskes is investigating broker Alvery Anthony Bartlett Jr. (CRD#13975) of Aegis Capital following allegations of unsuitable real estate and oil and gas investment recommendations to customers. Bartlett, located in Clayton, Missouri, has a history of misconduct in his clients’ accounts, resulting in $14 million in customer complaints filed since 2015.
According to Bartlett’s FINRA BrokerCheck report, since he left Berthel, Fisher & Company Financial Services, Inc. in 2016, Bartlett has been named in four investment related disputes for poor recommendations during his time at the firm. Bartlett was also previously registered with Arete Wealth Management, LLC from 2016 to 2020. The latest pending complaint includes clients associated with all three firms: Aegis Capital, Arete Wealth Management, and Berthel Fisher.
If you have suffered investment losses at the hands of Alvery Anthony Bartlett Jr. at Aegis Capital Corp., Arete Wealth Management, LLC, or Berthel, Fisher & Company Financial Services, you are encouraged to contact attorney Lawrence L. Klayman at (888) 997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
According to FINRA BrokerCheck, Alvery Anthony Bartlett has 5 public disclosures that requested a total of over $14.3 million in damages. 4 out of 5 have been settled in favor of investors – the final complaint is pending.
FINRA (Financial Industry Regulatory Authority) is responsible for registering and regulating every broker and broker-dealer engaging in business with the U.S. public. Under FINRA suitability requirements (FINRA Rule 2111) brokers and brokerage firms have a duty to recommend suitable financial products and trading strategies based on their client’s financial interests.
According to FINRA, the suitability rule requires brokerage firms and financial advisors to have a “reasonable basis” for recommending investments or investment strategies, which is made up of two components:
There are various factors that must be taken into consideration by the broker in order to meet “reasonable diligence” and determine the suitability of a particular investment or investment strategy, based on a client’s investment profile:
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com