Danny Baumgold: $591K Complaint Against Ex-LPL, JBA Advisor

A recent investor complaint against Fort Collins, Colorado financial advisor Danny Baumgold (CRD# 7572205) alleges that his advice resulted in six-figure damages. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor with Cambridge Investment Research, doing business as JBA Wealth Management Group.

Mr. Baumgold’s BrokerCheck report discloses one investor complaint. Filed in February 2026, it alleges that as a representative of LPL Financial, he failed to disclose that an asset liquidation would result in a taxable event. The pending complaint alleges damages of $591,000.

Investors should be aware that FINRA rules forbid brokers from misrepresenting or omitting material facts relating to the investments and strategies they recommend to their clients. FINRA Rule 2020 states specifically that no broker shall “effect any transaction in, or induce the purchase or sale of, any security by means of any manipulative, deceptive or other fraudulent device or contrivance.” Brokers who make misrepresentations regarding their investment recommendations may cause their clients to make unsuitable investments or transactions, in violation of FINRA Rule 2111. This rule provides that brokers and broker-dealer firms must “have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” Brokers who lack this reasonable basis, or who otherwise recommendation investments and/or strategies that aren’t suitable for their customers, are considered to have violated Rule 2111 and may be liable for damages in the event of losses.

According to the Financial Industry Regulatory Authority, Danny Baumgold holds three years of securities industry experience. Based in Fort Collins, Colorado, he has been registered as a broker and an investment advisor with Cambridge Investment Research since April 2026, doing business as JBA Wealth Management Group. His past registrations include LPL Financial and Cambridge Investment Research. His credentials include the passage of four securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; the General Securities Principal Examination, or Series 24; and the General Securities Representative Examination, or Series 7TO. He holds 34 state licenses. (Information current as of June 4, 2026.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.