Liberty Partners Financial Services Named In Fraud Claim

Brian J. Zimmerman, of San Diego, California, a stockbroker formerly registered with Liberty Partners Financial Services, LLC, has been named in a customer initiated investment related arbitration claim, in which the customer was awarded $20,000.00 in damages on March 14, 2016, based upon allegations that Zimmerman made misrepresentations and omissions to the customer, churned the customer’s account, breached his contractual and fiduciary duties, violated FINRA Rule 2210, negligently handled the customer’s investment portfolio, and committed fraud pertaining to options and over-the-counter equity transactions. The customer additionally alleged that Liberty Partners Financial Services failed to supervise Zimmerman’s activities.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Zimmerman has been identified in four additional customer initiated investment related disputes containing allegations of his misconduct while employed with Liberty Partners Financial Services, LLC, and Andrew Garrett, Inc. #bucketshop.  In particular, on March 29, 2001, a customer was awarded $18,921.50 in damages according to an investment related arbitration claim involving Zimmerman’s conduct, based upon allegations that Zimmerman violated securities laws of the State of Michigan, violated Michigan’s Consumer Protection Law, negligently handled the customer’s investments, converted the customer’s funds, breached his contractual duties, and defrauded the customer in reference to over-the-counter equity transactions.
Subsequently, on September 11, 2000, a customer initiated investment related arbitration claim regarding Zimmerman’s activities was settled for $36,000.00 in damages based upon allegations that Zimmerman breached his fiduciary duties, effected transactions in the customer’s account which were not suitable, and committed fraud pertaining to equity transactions. On February 15, 2012, another customer initiated investment related written complaint regarding Zimmerman’s conduct was resolved for $40,000.00 in damages based upon allegations that Zimmerman effected mutual fund and equity trades in the customer’s account on an excessive basis, and was liable for the customer’s poor investment performance.
On January 22, 2016, a customer initiated investment related written complaint regarding Zimmerman’s activities was resolved for $10,000.00 in damages based upon allegations that Zimmerman effected a variable annuity transaction which was not suitable and ultimately caused the customer to sustain investment losses.
On March 28, 2012, Zimmerman’s registration with Liberty Partners Financial Services, LLC was terminated. Since April 10, 2012, Zimmerman has been registered with Independent Financial Group, LLC.