INVESTORS: Great Point Capital broker James David Beaudoin is facing a pending customer dispute alleging recommendation of unsuitable investments.
James David Beaudoin (CRD#: 2992651) is registered as a broker and investment adviser with Great Point Capital, where he’s been employed since May 2022. Previously, Beaudoin was registered as a broker and investment adviser with Berthel, Fischer & Co. from 2010 until 2022.
Beaudoin has four disclosures on his BrokerCheck report. One customer dispute filed against Beaudoin was closed with no action taken. One disclosure relates to a personal financial matter.
June 2021 Customer Dispute
Allegations: The clients allege the investments they purchased from 2014-2019 were unsuitable and misrepresented by the representative. The client also alleges the firm failed to conduct adequate due diligence and had an inadequate supervisory system.
Broker Comment: The representative denies the allegations and asserts the investments were suitable for the clients considering their risk profile, net worth and liquidity needs. The representative further states the clients conducted their own due diligence of the investments and were fully aware of the risks and rewards of their investments.
June 2008 Employment Separation After Allegations
Firm Name: LPL Financial Corporation
Termination Type: Permitted to Resign
Allegations: Mr. Beaudoin resigned during the course of the firm’s internal review concerning violations of firm rules. The firm reviewed documents reflecting Mr. Beaudoin referred individuals to an investment not held or offered by them.
Broker Comment: In 2008, I was invited to dinner by a former colleague to meet potential clients for my investment management business and unbeknownst to me, he gave a presentation on a private placement. My broker dealer began a review process and questioned what took place at the dinner. At the time of their review I was in the process of resigning to partner with another broker dealer. FINRA reviewed the matter and closed their inquiry without taking any further action.
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