A recent investor complaint disclosed on Jamestown, North Dakota financial advisor Paul Witthauer’s (CRD# 1672263) BrokerCheck report concerns allegations regarding...Read More
Bryon Martinsen: Centaurus Rep Allegedly Caused $9MM Losses
According to records maintained by the Financial Industry Regulatory Authority (FINRA), Kings Park, New York broker and investment adviser Bryon Martinsen (CRD# 1621649) has received pending investor complaints alleging his actions resulted in more than $9 million in losses. Martinsen is currently registered with Centaurus Financial.
Bryon Martinsen’s BrokerCheck report lists five settled investor complaints against him, as well as three
pending investor complaints. The most recent pending complaint was filed in October 2020 and alleges that as a representative of Centaurus Financial, he recommended unsuitable, high-risk, and illiquid investments. The pending complaint alleges damages of $3 million.
Another pending complaint filed in 2020 alleges that while at Centaurus Financial, Bryon Martinsen misrepresented material facts and concentrated the account in unsuitable securities. The pending complaint alleges damages of $5 million.
A third pending complaint, filed in 2019, alleges that while at Centaurus Financial, Bryon Martinsen made unsuitable investment recommendations in real estate securities. The pending complaint alleges damages of $1.7 million.
A complaint filed in 2019 alleged that as a representative of Centaurus Financial, he made unsuitable investment recommendations. The complaint reached a settlement of $25,000.
A complaint filed in 2018 alleged that as a Centaurus Financial representative, he misrepresented and omitted material facts in connection to unsuitable investments. The complaint reached a settlement of $10,000.
A complaint filed in 2014 alleged that while at Centaurus Financial, he breached his fiduciary duty, committed common law fraud, acted negligently, and misrepresented and omitted material facts in connection to non-traded real estate investment trusts, leasing equipment funds, and private placements. The complaint reached a settlement of $87,500.
According to the Financial Industry Regulatory Authority (FINRA), Bryon Martinsen holds 34 years of securities industry experience and is currently registered with Centaurus Financial in Kings Park, New York. His prior registrations include The Equitable Life Assurance Society of the United States in New York, New York and AXA Advisors in New York, New York. He has passed seven securities industry qualifying examinations: the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; Uniform Investment Adviser Law Examination, or Series 65; Corporate Securities Limited Representative Examination, or Series 62; Direct Participation Programs Representative Examination, or Series 22; Investment Company Products/Variable Contracts Representative Examination, or Series 6; and Investment Company Products/Variable Contracts Principal Examination, or Series 26. He currently holds 18 state securities licenses. (Information current as of August 18, 2021.)