Joseph Weinbaur Allegedly Overconcentrated Clients in Alternative Investments

Joseph Weinbaur (CRD #: 2714070), a broker registered with Berthel, Fisher & Company Financial Services, is involved in several disputes, according to his BrokerCheck record, accessed on February 28, 2025. Investors may have also worked with him through BFC Planning. Read on to learn more about his alleged conduct as a broker.

Investor Disputes

In pending disputes filed on July 2, 2024, and January 13, 2025, multiple investors alleged that Joseph Weinbaur made unsuitable recommendations and overconcentrated their accounts in alternative investments and private placements.

Investors further alleged that he and his firm misrepresented these investments and induced them to retain an investment, resulting in losses. The 2024 dispute seeks $235,000 in damages.

On July 7, 2021, several investors filed a dispute alleging that Joseph Weinbaur made unsuitable recommendations, misrepresentations, and engaged in negligent management and overconcentration of certain investments from 2014-2015. They sought $215,000 and received a settlement of $190,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

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

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence investors’ decisions. The misrepresentation or omission of material facts violates this rule.

What is broker negligence?

Many types of broker misconduct may qualify as negligence, including unsuitable investment recommendations, unauthorized trading, and overconcentration.

Investors who believe their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration.

Background Information

Joseph Weinbaur has passed the following exams:

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

Joseph Weinbaur is a registered broker in 20 states and a registered investment adviser in Missouri.

He has also worked for the following firms:

• National Planning Corporation (CRD#:29604)
• American General Securities (CRD#:13626)
• Franklin Financial Services Corporation (CRD#:5435)

Kurta Law Can Help

If you worked with Joseph Weinbaur 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 that 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.