Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Berthel Fisher Settles FINRA Securities Arbitration Claim Involving Alternative Investments

stockbroker misconduct

Robert D’Agosta of Cedar Rapids, IA, a stockbroker registered with Berthel Fisher Company Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $25,000.00 in damages based upon allegations that D’Agosta made unsuitable recommendations, made misrepresentations and omissions of material fact, and failed to perform due diligence in connection with the sale of direct investments, real estate securities, and business development companies when D’Agosta was associated with Berthel Fisher Company Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-00538 (August 23, 2022).

FINRA Public Disclosure shows that D’Agosta has been referenced in five other customer initiated investment related disputes concerning D’Agosta’s conduct while associated with securities broker dealers, including Berthel Fisher Company Financial Services Inc. On May 23, 2017, a customer filed an investment related complaint involving D’Agosta’s conduct in which the customer requested compensation based upon allegations that D’Agosta made unsuitable recommendations of real estate securities.

D’Agosta was named in a FINRA securities arbitration claim in which the customer was awarded $100,000.00 in compensatory damages and $100,000.00 in punitive damages because D’Agosta and Berthel Fisher Company Financial Services Inc. were held liable for sales practice violations. FINRA Arbitration No. 16-03759 (December 11, 2018). The Statement of Claim alleged that D’Agosta made unsuitable recommendations, violated state securities laws, breached a contract, breached his fiduciary duties, was negligent, negligently supervised certain representatives, and made misrepresentations of material fact in connection with the sale of REITs and limited partnership interests.

On May 30, 2019, a FINRA securities arbitration claim involving D’Agosta’s conduct was settled for $500,000.00 in damages based upon allegations that D’Agosta made unsuitable recommendations and made misrepresentations of material fact in connection with the sale of oil and gas investments, real estate securities, and business development companies. FINRA Arbitration No. 17-01004.

D’Agosta was also referenced in a FINRA securities arbitration claim that was settled for $26,000.00 in damages based upon allegations that D’Agosta made unsuitable recommendations and overconcentrated the customer’s accounts in direct investments, oil and gas investments, real estate securities, and business development companies. FINRA Arbitration No. 20-01791 (February 22, 2022).

D’Agosta was associated with Berthel Fisher Company Financial Services Inc. in Center Valley, PA, as a stockbroker and investment advisor representative from August of 2004 to July of 2019.

D’Agosta has been associated with IBN Financial Services Inc. in Liverpool, NY, as a stockbroker since August 12, 2019, and has been associated with IBN Financial Services Inc. in Center Valley, PA, as an investment advisor representative since August 21, 2019.