Berthel Fisher Sued For Unsuitable Investments

Alvery Anthony Bartlett Jr. of Saint Louis Missouri a stockbroker formerly registered with Berthel Fisher Company Financial Services Inc. is referenced in a customer initiated investment related civil action in which the customer sought $6,637,918.00 in damages founded on allegations that (1) unsuitable hedge funds and real estate securities had been effected in the customer’s account (2) misrepresentations had been made by Bartlett concerning oil and gas and direct investment products (3) the firm failed to supervise Bartlett’s activities in the customer’s account and (4) the firm neglected to undertake reasonable due diligence on the investments offered to the customer. Civil Action No. A-18-767962 (Feb. 28, 2018).

FINRA Public Disclosure additionally reveals that a customer initiated investment related arbitration claim regarding Bartlett’s activities was settled for $25,000.00 in damages based upon accusations of misrepresentation, suitability, failure to supervise and failure to conduct due diligence in reference to the customer’s tenant-in-common and oil and gas investments. FINRA Arbitration No. 14-03867 (Dec. 18, 2015).

Moreover, a customer filed an investment related arbitration claim pertaining to Bartlett’s conduct where the customer requested $3,940,000.00 in damages supported by allegations that real estate security, oil & gas investments, and direct investment products were not represented accurately by Bartlett and were inappropriate for the customer to be placed in. FINRA Arbitration No. 17-03515 (Jan. 8, 2018).

Bartlett’s employment with Berthel Fisher was terminated on August 9, 2016. Since then, he has been associated with Arete Wealth Management LLC.

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