Tim Vanlohuizen, Idaho Broker, Involved in $450,000 Worth of Customer Disputes

Tim Vanlohuizen (CRD#: 2166867), a registered representative with Sagepoint Financial, Inc. (CRD#: 133763) in Coeur d’Alene, Idaho, is currently involved in two pending customer disputes, according to his BrokerCheck record accessed on April 1, 2020. The customers are seeking a total of $450,000 in damages. 

Most recently, on February 4, 2020, a client alleged that Tim Vanlohuizen recommended unsuitable investment products. As a broker, Tim Vanlohuizen is obligated to make sure that he only recommends investments that are “suitable” for a client given their short-term and long-term investment goals, age, risk tolerance, need for liquidity, and other factors. In this case, the client is alleging that he failed to do this. The client is seeking $100,000 in damages. 

On May 29, 2019, another client filed a complaint against Tim Vanlohuizen, alleging that he acted negligently, made unsuitable investment recommendations, made misrepresentations, and breached his fiduciary duty. The investments at issue are precious metals and oil and gas investments. These are often highly speculative private placements that are not suitable for the average retail investor. The client is seeking $350,000 in damages. 

These two pending customer complaints against Tim Vanlohuizen are not the only disclosures on his BrokerCheck record. He was involved in three other complaints from 2016 through 2018. 

On December 12, 2016, a customer filed a complaint against Tim Vanlohuizen, alleging that he recommended unsuitable investments. The customer sought $275,000 in damages; the matter was ultimately settled for $114,000. 

On April 18, 2017, a customer filed a second customer complaint against Tim Vanlohuizen, alleging that he gave inaccurate advice regarding the rollover of a deferred benefit account. The dispute later settled.

On November 13, 2018, a third customer filed a complaint against Tim Vanlohuizen, alleging that the broker managed his retirement account poorly and gave poor advice regarding the account’s sustainability once the customer initiated regular withdrawals. The customer originally sought $126,000; the matter later settled.

In addition to Sagepoint Financial, Inc. (CRD#: 133763), this broker has also worked for the following brokerage firms:

• Sunamerica Securities, Inc. (CRD#: 20068)
• Multi-Financial Securities Corporation (CRD#: 10299)
• Waddell & Reel, Inc. (CRD#: 866)

Tim Vanlohuizen has passed the Series 65 – Uniform Investment Adviser Law Examination, the Series 63 – Uniform Securities Agent State Law Examination, the General Industry/Products, the SIE – Securities Industry Essentials Examination, the Series 7 – General Securities Representative Examination, the Series 6 – Investment Company Products/Variable Contracts Representative Examination, and the Series 24 – General Securities Principal Examination. He is licensed to sell securities in Alaska, Arizona, California, Colorado, Delaware, Florida, Hawaii, Idaho, Iowa, Maryland, Massachusetts, Michigan, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Ohio, Oregon, Pennsylvania, South Dakota, Texas, Vermont, and Washington. 

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