A pending investor complaint against Morgan Stanley representative Christopher McCaffrey (CRD# 2735236) alleges his recommendations led to $15 million in...Read More
$3MM Complaint Against Elm Grove Rep Timothy Bartelt
Raymond James stockbroker Timothy Bartelt (CRD# 2501532) is the subject of an investor complaint alleging $3 million in damages. According to the Financial Industry Regulatory Authority, Bartelt is based in the firm’s branch office in Elm Grove, Wisconsin and the complaint against him is still pending.
Timothy Bartelt’s BrokerCheck report describes the pending complaint against him thusly: the client alleges that while Bartelt was a representative of Raymond James Financial Services, he made unsuitable recommendation of a unit investment trust and equities, over-concentrated the customer in energy securities, misrepresented certain investments, and “engaged in churning.” The pending complaint alleges damages of $3 million.
Mr. Bartelt’s BrokerCheck report also notes that the Ohio Division of Securities sanctioned him in 1997. The Division’s action concerned allegations he violated Ohio Revised Code section 1707.44(B)(4), which forbids registered representatives from knowingly making or causing false representations of material facts for the purpose of selling securities. Mr. Bartelt was ordered to cease-and-desist.
According to the Financial Industry Regulatory Authority, Timothy Bartelt holds 27 years of securities industry experience. He is registered as a broker and investment adviser with Raymond James Financial Services’ branch office in Elm Grove, Wisconsin. He has been registered with the firm as a broker since December 2008 and as an investment adviser since 2009. His registration history includes Raymond James Financial Services (Chicago, Illinois), Ameriprise Advisor Services (Orland Park, Illinois), Quick & Reilly (New York, New York), A.G. Edwards & Sons (St. Louis, Missouri), American Fronteer Financial Corporation (Denver, Colorado), HJ Meyers & Company (Rochester, New York), and LC Wegard & Company (New York, New York). He has passed the Uniform Investment Adviser Law Examination, the Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the General Securities Representative Examination. He has state licenses in Alaska, Florida, Illinois, Texas (broker and investment adviser), Virginia, Washington, and Wisconsin (broker and investment adviser). (Information current as of November 13, 2021.)