Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Malaussena (Malaussena), currently associated with Berthel, Fisher & Company Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Malaussena recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a settled customer complaint on October 29, 2020.
In October 2020 through a series of emails the client made a complaint and alleged that she was not informed about the costs of her investments she made from 2000-2020 in mutual funds, annuities, and CDs. She allege she was misled about the returns she received after the fees she incurred. In addition, the client questioned whether she incurred more in taxes as a result of the investment she selected. In January 2022, the client filed an arbitration which alleged an unsuitable investment strategy, misrepresentation of the investments, forgery of the client's signature on some of the paperwork, and that the firm failed to adequately supervise the representative.