Bryon Martinsen Involved in Disputes Alleging Unsuitable Investment Recommendations

Bryon Martinsen (CRD #: 1621649), a broker and investment advisor registered with Centaurus Financial, is facing a pending dispute alleging unsuitable investment recommendations, according to his BrokerCheck record, accessed on January 15, 2022.

According to the allegations filed on December 13, 2021, Bryon Martinsen over-concentrated his customer’s account(s) in illiquid investments.

Prior Unsuitability Disputes

This is not Bryon Martinsen’s first investor dispute alleging unsuitability.

Pending Dispute

On October 16, 2020, Bryon Martinsen was involved in an investor dispute alleging high-risk, illiquid, and unsuitable investment recommendations made between 2007 and 2020. The investors seeking $3,000,000一the case is still pending

Settled Disputes

• On April 13, 2020, Bryon Martinsen was involved in an investor dispute for allegedly misrepresenting and concentrating his client’s account(s) in unsuitable investments. The case settled for $985,000.00.
• On April 25, 2019, Bryon Martinsen was involved in a similar dispute. He allegedly recommended unsuitable investments between 2009 and 2018. The case was settled for $217,818.19.
• On September 17, 2014, Bryon Martinsen was involved in an investor dispute after allegations of misrepresentation and omission following purchases of non-traded real estate investment trusts and pirate placements. The case settled for $87,500.00. 

Unsuitable Investment Recommendations Violate FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

• Investments can be unsuitable because they are high risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

Civil Lien

In 2009, Bryon Martinsen became the subject of a civil lien, amounting to $26,823. 

Bryon Martinsen 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.

He has worked with the following firms:

• AXA Advisors (CRD#:6627)
• The Equitable Life Assurance Society of The United States (CRD#:4039)

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.