Brett Arthur Hartvigson, of San Diego, California, a stockbroker registered with Independent Financial Group LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Hartvigson failed to cooperate with an investigation into a customer complaint. Letter of Acceptance, Waiver, and Consent No. 2023078455601 (February 5, 2024).
According to the AWC, on August 18, 2023, FINRA initiated an investigation into Hartvigson’s conduct involving an investor. The regulator requested documents and information under FINRA Rule 8210. Hartvigson, through his lawyer, acknowledged this request but chose not to comply. By refusing to produce the requested information or documents, Hartvigson violated FINRA Rules 2010 and 8210.
FINRA Public Disclosure shows that Hartvigson is referenced in four customer initiated investment related disputes concerning his conduct while associated with securities broker dealers. On October 29, 2002, a customer initiated investment related complaint involving Hartvigson’s conduct was settled for $65,054.51 in damages based upon allegations that Hartvigson made unsuitable recommendations in variable universal life insurance products when he was associated with Thrivent Investment Management Inc.
In another instance, a customer alleged that they were not informed of the risks involved in purchasing a variable universal life contract while Hartvigson was associated with Lutheran Brotherhood Securities Corp. The complaint was settled on August 30, 2004, for $750.49.
Hartvigson was also referenced in a customer initiated investment related complaint that was settled on September 4, 2007, for $11,182.57 in damages. This complaint alleged that when Hartvigson was associated with Thrivent Investment Management Inc., he removed the customer’s assets in a stockbrokerage account to purchase life insurance and fixed annuities, leading to a loss of liquidity.
On December 3, 2021, a different customer initiated investment related FINRA securities arbitration claim involving Hartvigson’s conduct was settled for $350,000.00 in damages. Allegedly, Hartvigson overconcentrated the customer’s investments in alternative investments, including REITs and BDCs. This occurred while Hartvigson was associated with Independent Financial Group LLC. FINRA Arbitration No. 20-03209.
Hartvigson was associated with Independent Financial Group LLC in San Diego, California, from April 6, 2009, to October 27, 2023, as a stockbroker.
