Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » Investors Settle Claim Against J.W. Cole Financial For Unauthorized Trading

investment fraud

Tim Russell Gerds (also known as Tim Gerds), of Hubertus, WI, a stockbroker registered with J.W. Cole Financial Inc., was the subject of a customer initiated investment related complaint that was settled on August 16, 2021, for $50,000.00 in damages based upon allegations that Gerds engaged in unauthorized trading and charged excessive fees in connection with the sale of fixed annuities and stocks when Gerds was associated with J.W. Cole Financial Inc.

Financial Industry Regulatory Authority (FINRA) Public Disclosure shows that Gerds has been referenced in eight other customer initiated investment related disputes concerning Gerds’ conduct while associated with securities broker dealers. On November 20, 2008, a customer filed an investment related complaint involving Gerds’ conduct in which the customer requested compensation based upon allegations that Gerds made unsuitable recommendations of variable life insurance products during the time that Gerds was associated with U.S. Bancorp Investments Inc.

Gerds was the subject of a FINRA securities arbitration claim in which the customer was awarded $5,200.00 in compensatory damages because Gerds and U.S. Bancorp Investments Inc. were held liable for sales practice violations. FINRA Arbitration No. 15-02590 (June 3, 2016). The Statement of Claim alleged breach of contract, breach of fiduciary duty, and negligent supervision. The claim also alleged that Gerds made unsuitable recommendations and made misrepresentations of material fact in connection with the sale of unit investment trusts during the period that Gerds was associated with U.S. Bancorp Investments Inc.

On June 17, 2019, another customer filed an investment related complaint involving Gerds’ conduct in which the customer requested $90,000.00 in damages based upon allegations that Gerds engaged in unauthorized trading and charged excessive fees in connection with the sale of fixed annuities and stocks during the time that Gerds was associated with J.W. Cole Financial Inc.

Gerds has been associated with J.W. Cole Financial Inc. in Hubertus, WI, as a stockbroker since May 1, 2015, and associated with J. W. Cole Advisors Inc. in Hubertus, WI, as an investment advisor representative since May 11, 2015.