Broker Jeremy Seth Rosen Complaints – Compensation & Help

Broker Jeremy Seth Rosen Accused of Unsuitable Investments for Customers While at Berthel, Fisher & Company Financial Services

Former customers of Jeremy Seth Rosen have accused the previously registered broker and investment adviser of making unsuitable investments, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck.  Rosen’s record contains disclosures of three pending and seven final customer disputes related to his time as a broker with Berthel, Fisher & Company (BFC) Planning, Inc.

A History of Alleged Unsuitable Investments

According to BrokerCheck, all seven of the settled disputes involving Rosen allege that the investments he made on clients’ behalf between 2016 and 2019 were unsuitable. Disputes of unsuitability represent some of the most common FINRA arbitration claims. This type of complaint typically arises from a broker putting their clients into products that are inappropriate for the clients’ investment goals, financial situation, or risk tolerance.

A broker is bound by FINRA Rule 2111 to educate themselves on their investors’ profile—which includes clients’ liquidity needs, financial needs, and age—and to consider these elements when recommending and making investments for each client.

If a broker fails to consider these parameters in favor of transactions that pay the highest commissions, clients are entitled to recover any losses through arbitration.

A Firm That Reportedly Failed to Supervise

Rosen’s customers further accused BFC of failing to supervise Rosen’s activities when he was under the firm’s employ, BrokerCheck reports. This failure would represent yet another FINRA violation. FINRA Rule 3110 requires that member firms “establish and maintain a system to supervise the activities of each associated person”—to include the brokers and investment advisors that represent the member firms.

Settled and Pending Disputes

The complainants in the settled disputes involving Rosen alleged damages ranging from $140,000 to $4,500,000. Although the firm admitted no wrongdoing, it agreed to settle an arbitration with each claimant. Settlement amounts ranged from $44,400 to over $955,000, BrokerCheck reports.

Three customer disputes remain pending as of this writing, as per Rosen’s FINRA record. The complaints center on the same issue of unsuitability, and they also hold BFC Planning responsible for failing to supervise their employee’s actions. Some complaints further accuse Rosen of misrepresenting investments. Alleged damages in these pending disputes range from over $1,500,00 to $1,800,000.

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