- January 31, 2020
- Sagepoint Financial, Inc.
Timothy Jan Vanlohuizen (CRD # 2166867) is a Financial Advisor at Sagepoint Financial, Inc. in Coeur d’Alene, ID. Timothy Vanlohuizen has been in the securities industry since 1991 and previously worked at SunAmerica Securities, Inc., Multi-Financial Securities Corporation and Waddell & Reed, Inc.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Timothy Vanlohuizen has six disclosed customer complaints. Among the customer complaints are the following:
• May 2019 – “NEGLIGENCE, SUITABILITY, MISREPRESENTATION AND BREACH OF FIDUCIARY DUTY CLAIMS RELATED TO ALLEGED SALES OF PRECIOUS METALS AND OIL AND GAS INVESTMENTS.” Alleged damages are $350,000, and the matter is currently pending.
• November 2018 – “Customer alleges that representative poorly managed retirement account and gave poor advice as to the sustainability of the account once regular withdrawals were initiated.” The matter settled for $25,000.
• December 2016 – “ALLEGED UNSUITABLE INVESTMENTS.” The matter settled for $114,000.
• August 1999 – “CLAIMANTS ALLEGED, ON MY ADVICE, THAT SHE TAKE MONEY OUT OF HER MUTUAL FUNDS (9/16/1994 – [CUSTOMER] AND 02/15/1995 – [OTHER CUSTOMER NAME]) AND LOAN MONEY TO ANOTHER PARTY. THE LOAN TO BE SECURED BY A DEED OF TRUST.” An arbitration panel awarded the Claimants $44,100.
For a copy of Timothy Vanlohuizen’s CRD, click https://brokercheck.finra.org/individual/summary/2166867#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.
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