- April 8, 2019
- Berthel Fisher & Co.
Jonathan T. Pyne is a Financial Advisor at Berthel Fisher & Co. in Minneapolis, MN. Jonathan Pyne has been in the securities industry since 1995 and previously worked at W.S. Griffith & Co., Inc., 1717 Capital Management Company, Clearing Services of America, Inc. and United Planners’ Financial Services of America.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in January 2019, a customer filed a complaint against Jonathan Pyne alleging that “the investments he purchased between 2007-2015 were unsuitable and misrepresented by the representative. The client also alleges the firm failed to supervise the actions of the representative.” The complaint alleges damages of $150,000 and remains pending.
In addition, Jonathan Pyne has also been the subject of five additional complaints.
- December 2017 – “The client alleges that the representative failed to meet his fiduciary obligation by mismanaging her account and failing to communicate with her that her account was losing money. The client also alleges the representative surrendered her annuity without her permission.” The complaint alleges damages of $19,250.
- July 2017 – “The client would like to redeem her investment and is alleging that she was misled by the reprentative into purchasing an investment that she didn’t know was illiquid.”
- September 2016 – “The client is alleging that the investments she purchased in 2008 and 2009 were unsuitable and misrepresented to her by the representative.” The matter settled for $48,175.57.
- April 2014 – “THE CLIENT ALLEGES THE INVESTMENTS PURCHASED IN 2007 AND 2008 WERE MISREPRESENTED AND UNSUITABLE. THE CLIENT ALSO ALLEGES THE FIRM FAILED TO SUPERVISE THE REPRESENTATIVE.” The matter settled for $110,000.
- May 2011 – “CLIENT ALLEGES THE INVESTMENT WAS MISREPRESENTED BY THE REPRESENTATIVE.”
For a copy of Jonathan Pyne’s CRD, click https://brokercheck.finra.org/individual/summary/2580510#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at email@example.com.