James Anderson Martin, also known as James A. Martin or Jamie Martin, of Jacksonville, Illinois, a stockbroker registered with Berthel Fisher Company Financial Services Inc., has been permanently barred by Financial Industry Regulatory Authority (FINRA). The decision prohibits him from working as a stockbroker or associating with any broker-dealer firm. Martin agreed to the sanctions on September 20, 2024, without admitting or denying the findings. The bar resulted from Martin’s refusal to provide documents and information requested by FINRA during an investigation. Letter of Acceptance, Waiver, and Consent (AWC) No. 2024082753901.
According to the AWC, the investigation resulted from a Form U5 submitted by Berthel Fisher Company Financial Services Inc. The form stated that Martin was terminated for allegedly “borrowing money from a customer,” which violated company policy.
In addition to the regulatory action, a customer filed a complaint on September 16, 2024. The customer alleged that in January 2024, Martin recommended two variable annuities that were unsuitable for their financial situation and age. They also claimed that documents misstated their financial status. Berthel Fisher Company Financial Services Inc. reviewed the complaint and denied it on September 27, 2024. The customer received no compensation.
Martin’s termination from Berthel Fisher occurred on July 11, 2024, following a verbal report from a customer regarding an allegedly overdue loan. After investigation, the securities broker dealer confirmed Martin’s violation of company policy, leading to his discharge.
Martin had been registered with Berthel Fisher Company Financial Services Inc. in Jacksonville, Illinois, from March 2003 until his termination in July 2024. He is no longer permitted to work in the securities industry due to FINRA’s permanent bar.
