There are options for clients of former Berthel, Fisher & Company Financial Services, Inc. broker Dennis Fearing (CRD# 1288339), who suffered investment losses due to unsuitable recommendations. He was registered with Berthel, Fisher & Company Financial Services, Inc. in Coleraine, Minnesota from 2011 to 2021.
Dennis Fearing Customer Complaints
He has been the subject of four customer complaints between 2004 and 2022, one of which was denied, according to his CRD report:
March 2022. “The clients allege between 2014 – 2018 the investments recommended to them and purchased by them were not suitable, were inconsistent with their objectives and directives, and were misrepresented by the representative. They further allege their account was over concentrated in privately traded products. Additionally they allege the firm failed to preform appropriate due diligence and failed to supervise the activities of the representative.” The customer is seeking $750,000 in damages.
June 2021. “The client alleges the representative breached his fiduciary duties by misrepresenting the risks of the investments and failed to disclose the excessive fees earned on their investments between 2011-2015. In addition, the client alleges the firm was negligent, did not conduct adequate due diligence, and failed to supervise the representative.” The customer sought $200,000 in damages, and the case was settled for $14,999.
December 2020. “The clients allege the investments they purchased between 2012-2017 were unsuitable and misrepresented to them by the representative. The clients also allege the firm failed to supervise the actions of the representative and failed to conduct adequate due diligence.” The customer sought $1,100,000 in damages, and the case was settled for $325,000. The complaint was regarding business development companies (BDCs) and real estate securities.
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, Berthel, Fisher & Company Financial Services, Inc. may be liable for investment or other losses suffered by Dennis Fearing’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you 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.
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