Alvery Bartlett: $10 Million Complaint Against Clayton Advisor

A pending investor complaint against Clayton, Missouri broker Alvery Bartlett (CRD# 13975) seeks $10 million in damages. Financial Industry Regulatory Authority records show that the Aegis Capital representative has previously received investor complaints that reached settlements.

Mr. Bartlett’s BrokerCheck report discloses one pending investor complaint. Filed in March 2022, it alleges he “recommended an investment strategy consisting of large concentrations in illiquid, speculative, high commission alternative investments for over 15 years,” and further that this strategy was misrepresented. Some of the multiple claimants in the complaint allege additionally that he “engaged in questionable conduct relating to a private hedge fund and various business ventures,” and that when they followed him from his former firm to his next firm, he “continued to defraud and induce Claimants to do business with him,” misleading them as to their investments’ value. The pending complaint alleges damages of $10 million.

Four earlier complaints disclosed in Mr. Bartlett’s BrokerCheck report reached settlements. A complaint filed in 2020 alleged that as a representative of Berthel Fisher & Company, he recommended unsuitable, illiquid, high-commission investments that resulted in over-concentrations in their portfolio. In 2022 the complaint reached a settlement of $52,500.

A complaint filed in 2019 similarly alleged that while at Berthel Fisher, he misrepresented and recommended unsuitable investments. This complaint reached a settlement of $325,000.

A complaint filed in 2018 also alleged that he misrepresented unsuitable investments in oil and gas, real estate, and other securities between 2012 and 2014. This complaint reached a settlement of $450,000.

A complaint filed in 2015, finally, alleged that he misrepresented and recommended unsuitable investments in oil and gas and tenant-in-common products, while a representative of Berthel Fisher & Company. The complaint reached a settlement of $25,000.

According to the Financial Industry Regulatory Authority, Alvery Bartlett holds 39 years of securities industry experience. Based in Clayton, Missouri, he has been a representative of Aegis Capital since June 2020. His past registrations include Arete Wealth Management, Berthel Fisher & Company Financial Services, the Bartlett Fund Management Co., Mark Twain Brokerage Services, Derand/Pennington/Bass, Alvery Bartlett Brokerage, and Clayton Brokerage Co. of St. Louis. His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Registered Representative Examination, or Series 1; the Interest Rate Options Examination, or Series 5; the Securities Industry Essentials Examination, or SIE; and the Uniform Securities Agent State Law Examination, or Series 63. He holds 20 state licenses. (Information current as of May 25, 2022.)

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