Securities Arbitration

Kimberly Ann Barentsen (also known as Kimberly Ann Berentsen, Kimberly Ann Bietema, and Kimberly Ann Bielema) of Walnut Creek California a stockbroker formerly registered with First Allied Securities Inc. is the subject of a customer initiated investment related FINRA securities arbitration claim where the customer sought between $100,000.00 and $500,000.00 in damages based on allegations of First Allied Securities failing to supervise Barentsen’s recommendations of alternative investments, mutual funds, annuities and real estate securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01583 (June 29, 2021). According to the claim, Barentsen and First Allied Securities did not perform reasonable due diligence. The claim alleges that Barentsen gave bad investment advice to the customer between 2016 and 2019.

FINRA Public Disclosure also shows that Barentsen has been fined $5,000.00 and suspended for two months from associating with any FINRA member in any capacity based upon findings that Barentsen engaged in unapproved outside business activities during the time that she was associated with First Allied Securities. Letter of Acceptance Waiver and Consent No. 2019062246401 (Aug. 7, 2020).

According to the AWC, Barentsen operated an investment advisory in which she was the only employee. She received approval from First Allied Securities for some activities through her advisory, but this did not include charging asset-management fees on her clients’ annuity accounts. Barentsen failed to be forthcoming with First Allied Securities on compliance questionnaires regarding whether she was compensated for assets under management. She violated FINRA Rules 2010 and 3270.

Barentsen was discharged by First Allied Securities on March 25, 2019 supported by accusations of her failure to abide by policies relating to her investment advisory. She has been associated with NPB Financial Group LLC as a stockbroker and investment adviser representative since November 12, 2020. She is also associated with Barentsen Advisory Services LLC as of November 29, 2016.