Top executives at the brokerage firm allegedly sold unsuitable complex and high-risk investments to investors from 2007 through 2012
Did you lose money or receive unsuitable recommendations investing with Jerry McCutchen? Contact Sonn Law Group today or call 866–827–3202 for a free consultation. Under FINRA Rules, brokerage firms are responsible for the misconduct of their brokers. You may be able to recover some or all of your investment through FINRA arbitration.
Jerry McCutchen, Sr. (CRD# 1076678) is a previously registered broker and investment advisor. From 2007 to 2013, Mr. McCutchen was a registered representative with Berthel, Fisher & Company Financial Services, based in Mobile, Alabama.
In an arbitration resolution filed July 15, 2019, Mr. McCutchen and several other Berthel, Fisher & Co. executives were ordered to pay investors a total of $1.16 million after they were found liable for selling inappropriate complex investments related to equipment leases, direct participation programs, and several real estate investment trusts.
According to the claimants’ lawyer, Mr. McCutchen and the other liable parties filled their investors’ portfolios with complex, high-risk products that did not fit their risk profiles. He added that the markets for these kinds of investments are often “opaque,” and that victims may not discover a loss or wrongdoing until years after the fact.
This is not the first time Mr. McCutchen has been sanctioned by FINRA. According to his BrokerCheck report, Mr. McCutchen was barred from the securities industry in September of 2016 following his failure to appear for testimony during an investigation into alleged unsuitable recommendations.
In addition, Mr. McCutchen’s BrokerCheck profile reveals a total of 41 customer disputes dating back to 2000, many of which are still pending.
Prior to his registration with Berthel, Fisher & Co., Mr. McCutchen was a representative with Next Financial Group (2003–2007) and FSC Securities Corporation (1998–2003). He has been in the industry since 1983, where he started with Bay City Securities.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.