What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: September 13, 2016

Stoltmann Law Offices is investigating Jerry McCutchen, a former financial adviser at Berthel Fisher & Company in Mobile, Alabama. The Financial Industry Regulatory Authority (FINRA) was investigating him because of allegations that he made unsuitable investment recommendations to his customers to invest in alternative investments, including private placements, limited partnerships and real estate investments. These investments can be especially risky for many clients, as they tend to be illiquid. A broker must base his investment recommendation on many factors such as a client’s net worth, age, investment objectives and investment savvy. If he does not, his brokerage firm can be held liable for investment losses because of not being able to reasonably supervise him while he was employed there. The call to our Chicago-based securities law offices is free if you believe you have a claim against Jerry McCutchen and would like to sue his former firm, Berthel Fisher, in the FINRA arbitration forum on a contingency fee basis to recover your financial losses.

McCutchen was registered with Bay City Securities, First Funds Inc., Central Brokerage Services, MML Investors Services, Walnut Street Securities, ProEquities, Commonwealth Equity Services, FSC Securities Corp, Next Financial Group, and Berthel, Fisher & Company in Mobile, Alabama from January 2007 until December 2014. He has 25 customer disputes against him, eight of which are currently pending. He is not licensed and FINRA has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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