Kimberly Barentsen In First Allied Investor Dispute

Securities Broker Kim Barentsen Faces Investor Dispute, FINRA Sanctions

The Financial Industry Regulatory Authority (FINRA) contains new information regarding securities broker Kimberly Ann Barentsen (CRD#: 2092280, Walnut Creek, California). It appears that a client of First Allied Securities disputed Barentsen’s sales practices. Also, FINRA issued a two-month suspension to the securities broker for allegedly engaging in outside business activities at First Allied Securities. Moreover, First Allied Securities discharged her for her alleged nondisclosures Here’s more.

First Allied Securities Client Alleges Unsuitable Alternative Investment Recommendations By Kim Barentsen

Evidently, a client of First Allied Securities disputed Kim Barentsen’s investment recommendations. The June 2021 FINRA Arbitration Claim alleges that Barentsen recommended a real estate security. Supposedly, First Allied Securities failed to supervise the securities broker’s sale of this product. Also, the client contends that the securities firm did not do adequate due diligence on the alternative investments. For this reason, the client apparently incurred losses estimated at $100,000 to $500,000 from 2016 to 2019. This matter is ongoing.

FINRA Sanctions Barentsen For Outside Business Activities

Evidently, FINRA suspended Barentsen as a securities broker between September 7, 2020, and November 6, 2020, and issued her a $5,000 fine to resolve allegations that by charging asset-management fees, Barentsen exceeded her authority relating to her outside investment advisory business.
Namely, FINRA says that Kim Barentsen charged advisory clients a 1.5 percent annual fee through her registered investment advisory. Notably, FINRA says that First Allied Securities approved of her outside business but did not authorize her management of variable annuity subaccounts or asset-management fees. Moreover, from 2017 to 2018, Barentsen completed questionnaires purportedly containing inaccuracies about her charging advisory fees.

Did You Sustain Damages By Investing Through Kim Barentsen?

Did securities broker Kim Barentsen cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered meaningful compensation for United States investors who incurred losses from their financial advisors and securities brokers. Please note that Barentsen denies all allegations of his sales practice violations.