Investors: Bryon Martinsen’s Recommendations Caused Millions in Losses
Bryon Martinsen (CRD #: 1621649), a broker registered with Centaurus Financial, has two pending investor disputes regarding suitability, according to his BrokerCheck record accessed on November 2, 2021. These claims collectively seek $8 million dollars in alleged losses.
Investors Seek $8 Million Over Illiquid Investments
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 dispute settled for over $200,000.
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 Bryon 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.
Bryon Martinsen Associated with Centaurus Financial in Long Island, New York
Bryon Martinsen works for Centaurus Financial in Long Island, New York. He 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 us.