Berthel Fisher’s Jeff Pridey Has $136K Investment Complaint

Twin Falls, Idaho financial advisor Jeff Pridey (CRD# 2136022) allegedly recommended unsuitable alternative investments, according to a pending investor complaint. Financial Industry Regulatory Authority records show that he is a broker and investment advisor with Berthel Fisher & Company, doing business as Peak Financial Services.

Mr. Pridey’s BrokerCheck report discloses several pending investor complaints. The most recent, filed in 2021, alleges that as a representative of Berthel Fisher, he misrepresented and improperly recommended an unsuitable, high-commission, illiquid alternative investment. The pending complaint alleges damages of $136,000. 

An earlier investor complaint, filed in 2010, alleged fraud, misrepresentations, violations of FINRA and NASD rules, and breach of fiduciary duty in relation to private placement investments. The complaint evolved into a FINRA arbitration proceeding that concluded with an award to the customer of $100,000. A comment on the disclosure states that Mr. Pridey “disagrees with the allegations” and that he “was named only in a control person capacity since he was the Director and Secretary of CapWest Securities, Inc. at the time the claim was filed.”

A third complaint disclosed on Mr. Pridey’s BrokerCheck report was filed in 2010, alleging he failed to perform due diligence on a purchase of DBSI Inc. The complaint reached a settlement of $7,500.

In 2012 Mr. Pridey was discharged from Ausdal Financial Partners, according to a disclosure on his BrokerCheck report. The disclosure specifies that his termination related to allegations he “failed to disclose arbitrations to the firm.”

According to the Financial Industry Regulatory Authority, Jeff Pridey holds 30 years of securities industry experience. Based in Twin Falls, Idaho, he has been a representative of Berthel Fisher & Company since 2012, doing business as Peak Financial Services. His past registrations include Ausdal Financial Partners (Twin Falls, Idaho; 2011-2012), Capwest Securities (Twin Falls, Idaho; 2005-2011), United Securities Alliance (Greenwood Village, Colorado; 2003-2005), and Farmland Securities Company (Kansas City, Missouri; 1991-2002). His credentials inlude the passage of five securities industry qualifying exams: the Corporate Securities Limited Representative Examination, or Series 62; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Arizona, California, Colorado, Idaho, Minnesota, Oregon, South Dakota, Utah, Washington, and Wyoming. (Information current as of June 8, 2022.)

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