Investors Allege Bryon Martinsen’s Recommendations Resulted in Losses of Over $9 Million

Bryon Martinsen (CRD #: 1621649), a broker registered with Centaurus Financial, has three pending investor disputes regarding suitability, according to his BrokerCheck record, accessed on January 8, 2020. These three claims collectively total $9.7 million dollars in alleged losses.

On October 16, 2020, clients alleged that Bryon Martinsen recommended unsuitable, high-risk, and illiquid investments. The clients are seeking $3,000,000; the dispute is pending.

On April 13, 2020, clients alleged that Bryon Martinsen misrepresented certain investments and over-concentrated unsuitable securities in their portfolio. The clients are seeking $5,000,000; the dispute is pending.

On April 25, 2019, a client alleged that Martinsen recommended unsuitable investments. The client is seeking $1,700,000; the dispute is pending.

These are not the only disclosures on Bryon Martinsen’s record. He has five other settled customer disputes on his BrokerCheck record:

  • On February 22, 2019, a client alleged that Bryon Martinsen recommended unsuitable investments. The client sought $127,000; the dispute settled for $25,000.
  • On June 25, 2018, a client alleged that Martinsen recommended unsuitable investments, misrepresented certain securities and omitted material risks in connection with the sale of various investments. The client sought $231,244.71; the dispute settled for $10,000.
  • On September 17, 2014, a client alleged that Bryon Martinsen engaged in common law fraud misrepresented securities, and breached industry rules pertaining to the purchases of non-traded real estate investment trusts. The dispute settled for $87,500.
  • On June 29, 2007, a client alleged that Martinsen sold them unsuitable variable annuities and mutual funds. They further alleged that Martinsen did not fully explain these complex products. The dispute settled for $7,227.
  • On September 28, 2005, a client alleged that Bryon Martinsen recommended that she purchase a viatical settlement to mature in approximately 4 years. The company has since been taken over by the SEC. The client sought $120,428; the dispute settled for $50,000.

Besides his investor disputes, Martinsen also has a civil judgement and an employment termination on his record.

  • On June 25, 2009, Bryon Martinsen became the subject of a civil lien for $26,823.
  • On September 29, 1999, AXA Advisors fired Bryon Martinsen following allegations that he was involved in outside business activities even after his firm had advised him to cease those activities.

Bryon Martinsen has passed the Series 65 Uniform Investment Adviser Law Examination, the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, Series 62 Corporate Securities Limited Representative Examination, Series 22 Direct Participation Programs Representative Examination, the Series 6 Investment Company Products/Variable Contracts Representative Examination, and the Series 26 Investment Company Products/Variable Contracts Principal Examination. He is a registered broker in 16 states and a registered investment adviser in Iowa and New Jersey.

Besides Centaurus Financial, Bryon Martinsen has also registered with the following firms:

  • The Equitable Life Assurance Society of the United States (CRD #: 4039)
  • AXA Advisors (CRD #: 6627)

If Bryon Martinsen was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email info@fkesq.com for a free case consultation with a securities attorney.

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