Raymond Joseph Berg of Mound Minnesota is a stockbroker formerly registered with LPL Financial and owner of Omega Wealth Management Group Inc. who is the subject of a Consent Order issued by Minnesota Commission of Commerce in which a $3,000.00 fine was assessed based upon findings of omissions or representations relating to Berg’s qualifications. Case No. 39215/BD (Feb. 11, 2016).
Berg reportedly omitted that he was fired from LPL Financial LLC on February 23, 2015 based upon accusations that he committed violations of the firm’s discretionary trading policy by placing unauthorized equity trades in customer’s investment advisory accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Berg is the subject of a customer initiated investment related written complaint on September 24, 2015 where the customer sought $9,000.00 in damages founded on allegations that Berg negligently managed the customer’s equity portfolio, failing to take into account the customer’s financial status.
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