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Investors Allege James Siemonsma Gave Unsuitable Investment Recommendations

Oct 28, 2022 Unsuitable Investments

James Siemonsma (CRD #: 2172228), a broker registered with MSEC, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on October 10, 2022. Investors may have also worked with him through Mariner Wealth Advisors. If you have questions about his conduct as a broker, keep reading.

Investor Dispute

On July 18, 2022, several investors filed a dispute alleging that James Siemonsma made unsuitable recommendations with respect to the purchase of Atlas Growth Partners, LP. This dispute is pending. Atlas Growth Partners was a high-risk energy investment

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their risk tolerance, tax status, and age when making recommendations.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

James Siemonsma has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 22 – Direct Participation Programs Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

James Siemonsma is a registered broker in Iowa, Missouri, Nebraska, South Dakota, and Washington. He is also a registered investment adviser in Nebraska and Texas.

He has also worked for the following firms:

  • Mariner Wealth Advisors (CRD#:109904)
  • Honkamp Krueger Financial Services (CRD#:106237)
  • ProEquities (CRD#:15708)
  • Citicorp Investment Services (CRD#:23988)

Kurta Law Can Help

If you worked with James Siemonsma and you have concerns about your investments, please contact us today at 877-600-0098 or 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.