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Brent Foster: $700K Complaint Against Ex-Indie Asset Partners Advisor
Northbound Wealth representative Brent Foster (CRD# 5054998) is involved in numerous investor complaints. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that the Indianapolis-based investment advisor was formerly a broker with JP Morgan Securities and an advisor with Indie Asset Partners.
Mr. Foster’s BrokerCheck report discloses sixteen investor complaints, each detailing the same allegations relating to his conduct as a representative of Indie Asset Partners. The complaints specifically allege breach of fiduciary duty, negligence, over-concentration, breach of contract, supervisory failures, and control person liability. They allege further that Mr. Foster recommended investments in a private fund that later “suspended valuations and redemptions, and later explained that it was in a dispute with a sub-advisor.” According to the complaints, Mr. Foster “denies all allegations.” One of the pending complaints alleges damages of $700,000, while the others allege unspecified damages.
According to the Financial Industry Regulatory Authority and the Securities and Exchange Commission, Brent Foster holds 13 years of securities industry experience. Based in Indianapolis, Indiana, he has been an investment advisor with Northbound Wealth since 2020. His past registrations include Indie Asset Partners (Indianapolis, Indiana; 2017-2020), JP Morgan Securities (Carmel, Indiana; 2012-2017), Chase Investment Services (Fishers, Indiana; 2009-2012), Securian Financial Services (Indianapolis, Indiana; 2009), and Intersecurities (Indianapolis, Indiana; 2008-2009). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed as an investment advisor in Indiana. (Information current as of August 21, 2022.)
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