Vince Bailey: Oil & Gas Complaint Against Geneva Advisor

Berthel Fisher & Company Financial Services advisor Vince Bailey (CRD# 1845517) has received multiple investor complaints alleging he recommended unsuitable products and engaged in other forms of misconduct. Financial Industry Regulatory Authority records show that he is a broker based in Geneva, Illinois. 

Mr. Bailey’s BrokerCheck report discloses two investor complaints. The most recent, filed in May 2022, alleges that as a representative of Berthel Fisher & Company Financial Services, he misrepresented and recommended unsuitable and over-concentrated investments in oil and gas products and real estate securities. The pending complaint alleges unspecified damages believed to exceed $5,000.

A second investor complaint, filed in 2019, alleges that as a Berthel Fisher representative, he made misrepresentations and recommended unsuitable investments in oil and gas securities and real estate. In 2020 the complaint reached a settlement of $50,000.

Mr. Bailey’s BrokerCheck report also discloses his 2009 sanction by the State of Illinois Department of Financial & Professional Regulation Division of Insurance. The regulator issued him a penalty of $5,000, the disclosure states, in connection with allegations he “made misleading misrepresentations and failed to properly identify himself on advertisements sent to insurance clients.” 

According to the Financial Industry Regulatory Authority, Vince Bailey holds 30 years of securities industry experience. Based in Geneva, Illinois, he has been a broker with Berthel Fisher & Company since 2003. His past registrations include Continental Capital Investment Services (Bryan, Ohio; 1998-2003), Aegon USA Securities (Cedar Rapids, Iowa; 1994-1998), and Consolidated Financial Investments (Clayton, Missouri; 1992-1994). His credentials include the passage of six securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the Corporate Securities Limited Representative Examination, or Series 62; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, Utah, and Wisconsin. (Information current as of August 30, 2022.)

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