An investor complaint against Hilltop Securities advisors Brad Winges (CRD# 1929509) and Steve Coma (CRD# 1414147) alleges eight-figure damages. Financial...Read More
Bradley Bergdahl: $225K REIT Complaint Against Cando, North Dakota Rep
Cetera Advisor Networks representative Bradley Bergdahl (CRD# 1432349) recently received an investor complaint alleging six-figure losses following an unsuitable recommendation. Financial Industry Regulatory Authority records show that Mr. Bergdahl is affiliated as a broker and investment advisor with the firm’s offices in Cando, Grand Forks, Munich, Cavalier, and Fargo, North Dakota.
Mr. Bergdahl’s BrokerCheck report, a summary of his securities industry career, lists one pending investor complaint. Filed in January 2021, the complaint alleges that as a representative of LPL Financial, he recommended an unsuitable real estate investment trust product whose price declined. The pending complaint alleges $225,000 in damages.
FINRA has provided various investor resources about REIT products, including recommendations that investors “perform a careful review before investing” in non-traded REITs. Although these products offer attractive yields, the investor alert states, they come with their own complexities and risks: they do not guarantee distributions; they have tax consequences; because they’re not traded on a public market, they can be difficult to liquidate; they may have restrictive, costly early redemption provisions; they may have steep front-end fees; and it can be difficult to diversify them, to name a few. FINRA ultimately warns investors to “be wary of pitches or sales literature offering simplistic reasons to buy a REIT investment,” encouraging careful research of all available materials.
According to the Financial Industry Regulatory Authority, Bradley Bergdahl holds 25 years of securities industry experience. He has been affiliated with Cetera Advisor Networks since 2018 and is registered with the firms North Dakota offices in Cando, Grand Forks, Munich, Cavalier, and Fargo. His past registrations include LPL Financial (Cando, North Dakota; 1995-2018), Premier Financial Services (Cando, North Dakota; 2007), Primevest Financial Services (St. Cloud, Minnesota; 1993), Linsco/Private Ledger Corp. (Fort Mill, South Carolina; 1988-1993), and American Express Financial Advisors (1985-1987). His credentials include the passage of four securities industry exams: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the General Securities Principal Examination, or Series 24. He is licensed in Arizona, Colorado, Minnesota, Missouri, New Mexico, North Dakota, and Wyoming. (Information current as of April 4, 2022.)
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.