INVESTOR ALERT—Centaurus Financial Broker, Bryon Martinsen, Has Pending Complaint Alleging Fraud And Unsuitability

• August 9, 2018
• Centaurus Financial

Bryon Martinsen is a Financial Advisor at Centaurus Financial in Northport, NY.  Bryon Martinsen has been in the securities industry since the 1990s and previously worked at AXA Advisors.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on June 25, 2018, a customer filed a complaint against Bryon Martinsen, alleging “unsuitable investments, misrepresentations, and omission of material risks, in connection with the sale of various investments.”  The alleged damages are $231,244 and the matter remains pending.

Since 2005, Bryon Martinsen has been the subject of five (5) additional customer complaints, including the following:

• July 2016—“Client alleges the firm allowed products to be sold that were both unsuitable and not fully reviewed during the due diligence process.”
• September 2014—Client alleges “breach of fiduciary duty, common law fraud, negligence, misrepresentation…” The matter was settled for $87,500.
• September 2005—Client alleges unsuitability in connection with the purchase of a “viatical settlement…” The matter was settled for $50,000.

To review all customer complaints against Bryon Martinsen, click https://brokercheck.finra.org/individual/summary/1621649#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 mwolper@wolperlawfirm.com.