John Carroll Targeted For Misrepresentation, Suitability

Broker John Carroll Involved In Berthel Fisher Investors' Disputes

The Financial Industry Regulatory Authority (“FINRA”) reports troubling accusations by investors against securities broker John W. Carroll (CRD#: 41769, Maumee, Ohio). Most importantly, four investors brought disputes about the securities broker, who worked for Berthel Fisher from 2005 to 2018 before the firm disaffiliated with him for policy violations. In addition, at least two firms disaffiliated with Carroll over perceived sales practice violations. Here’s what we know so far.

Berthel Fisher Client Indicates That John Carroll’s Energy Investment Sales Were Unsuitable

Evidently, a client of Berthel Fisher disputed Carroll’s sales practices through a May 2020 dispute. Namely, the securities broker supposedly sold interests in DPPs or LPs and sold oil and gas investments. Those investments were reportedly unsuitable because of liquidity problems. It is possible that the client was not able to dispose of the securities and had sustained losses. For this reason, the client asks for compensatory relief in this ongoing matter.

Carroll Possibly Misrepresented Investments To Client

Apparently, a client of Berthel Fisher brought a FINRA Arbitration claim in September 2018. Apparently, Carroll sold the client business development company (BDC) investments. Those investments were not suitable for the client, the claim states. Also, it appears that Carroll could have misrepresented facts about these investments. Finally, the client suggested that Berthel Fisher failed to supervise Carroll. Because of this, the client demands compensation.

John Carroll Supposedly Allocates 90 Percent Of Client’s Portfolio In One Stock

BrokerCheck reports a dispute from December 2017 by a client who claims that Carroll gave bad advice. In fact, the client alleged that Carroll’s advice and decisions caused the client to suffer financial distress. The main reason for this, according to the claim, is that Carroll reportedly put 90 percent of the client’s portfolio in an underperforming stock. Also, Berthel Fisher allegedly failed to supervise Carroll.

Did You Experience Losses By Investing Through Carroll?

FINRA BrokerCheck indicates that Carroll denies all allegations of sales practice violations. Did Carroll unreasonably cause you to sustain losses? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced lawyers about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions for investors who have suffered losses due to the misconduct of financial advisors and securities brokers.