Bryon Martinsen Embroiled in Yet Another Unsuitability Dispute
Bryon Martinsen (CRD #:1621649), a broker and investment advisor registered with Centaurus Financial, has racked up another unsuitability dispute, according to his BrokerCheck record, accessed on January 7, 2022.
Since 2016, Bryon Martinsen has been involved in six investor disputes. Two disputes are still pending and five have been settled. Investors are seeking to recover over $3,000,000.
Unsuitability Disputes
Pending Disputes
- According to allegations filed on December 13, 2021, Bryon Martinsen overconcentrated a customer’s account in illiquid investments.
- On October 16, 2020, a dispute was filed against Bryon Martinsen after he allegedly invested his client’s accounts in unsuitable, high-risk, illiquid investments. The investors are seeking $3,000,000.
Settled Disputes
Between 2014 and 2019, Bryon Martinsen settled five investor disputes. The cases collectively settled for $1,325,318.19.
FINRA Rules and Regulations
Brokers who recommend securities are subject to FINRA rules and regulations.
FINRA Rule 2111 requires registered brokers to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs.
FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits.
Bryon Martinsen’s alleged unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.
Civil Lien
On June 5, 2009, Bryon Martinsen was the subject of a civil lien for $26,823.
Background Information
Bryon Martinsen 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 62 – Corporate Securities Limited Representative Examination
- Series 22 – Direct Participation Programs Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
- Series 26 – Investment Company Products/Variable Contracts Principal Examination
Bryon Martinsen is a registered broker in 15 states. He is also a registered investment advisor in Iowa and New Jersey.
Besides Centaurus Financial, Bryon Martinsen has worked for the following firms:
- The Equitable Life Assurance Society Of The United States (CRD#:4039)
- AXA Advisors(CRD#:6627)
Kurta Law Can Help
If you have worked with Bryon Martinsen and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.