Investors Allege Brian Cantel Misrepresented Unsuitable Investments

Brian Cantel (CRD #: 1743229), a broker registered with Berthel, Fisher & Company Financial Services, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on December 27, 2022. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

On November 1, 2022, multiple investors filed a dispute alleging that Brian Cantel misrepresented unsuitable investments purchased by the clients from 2012-2019, leading to an overconcentration of high-risk investments in their accounts.

The clients further alleged that Berthel, Fisher & Company Financial Services failed to conduct adequate due diligence on these investments and negligently failed to supervise Brian Cantel. This dispute is currently pending.

FINRA Rule 2020

FINRA Rule 2020 bans the use of fraudulent tactics, like deception or manipulation, as they relate to the purchase and sale of securities.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile, which describes information about their age, risk tolerance, and financial goals.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires that firms establish systems of supervision to ensure their compliance with securities regulations. Firms must select supervisory personnel with the appropriate training or experience for their role.

Background Information

Brian Cantel has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Brian Cantel is a registered broker in Arizona, Florida, and Georgia. He is also a registered investment adviser in Georgia.

He has also worked for the following firms:

• BFC Planning (CRD#:119682)
• ING Financial Partners (CRD#:2882)
• Locust Street Securities (CRD#:1703)
• Fidelity Equity Services (CRD#:17455)

Kurta Law Can Help

If you worked with Brian Cantel and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.