DID JAMES ANDERSON MARTIN CAUSE YOU INVESTMENT LOSSES?
James Martin Formerly With Berthel, Fisher & Company Financial Services, Inc. was terminated on July 11, 2024, due to a violation of company policy involving an outstanding loan with a client.
Who Is James Martin Formerly With Berthel, Fisher & Company Financial Services, Inc.?
James Anderson Martin (CRD#2928678) was formerly registered with Berthel, Fisher & Company Financial Services, Inc. and worked in Jacksonville, Illinois.
Martin is no longer registered as a securities broker.
He spent more than 20 years registered with Berthel Fisher, from March 2003 through July 2024. His earlier brokerage registrations included Continental Capital Investment Services, U.S. Bancorp Investments, Firstar Investment Services, Mercantile Investment Services, and Edward D. Jones & Co.
Investors throughout Illinois, including those seeking assistance from a Chicago investment fraud lawyer, can have their accounts independently reviewed if they believe broker misconduct caused financial losses.
James Martin Employment History
Martin entered the securities industry in 1997 and was associated with six brokerage firms during his career.
His registration history includes:
- Berthel, Fisher & Company Financial Services, Inc. — Jacksonville, Illinois, March 2003 through July 2024
- Continental Capital Investment Services, Inc. — Bryan, Ohio, January 2002 through March 2003
- U.S. Bancorp Investments, Inc. — St. Paul, Minnesota, December 2001
- Firstar Investment Services, Inc. — Morris Plains, New Jersey, January 2000 through December 2001
- Mercantile Investment Services, Inc. — St. Louis, Missouri, May 1999 through January 2000
- Edward D. Jones & Co., L.P. — St. Louis, Missouri, September 1997 through April 1999
Martin passed the Securities Industry Essentials Examination, General Securities Representative Examination (Series 7), and Uniform Securities Agent State Law Examination (Series 63).
Why Was James Martin Fired by Berthel Fisher?
Berthel, Fisher & Company Financial Services discharged Martin on July 11, 2024.
According to the firm’s regulatory disclosure, a client contacted the firm and reported that Martin had an outstanding loan that was past due.
Berthel Fisher stated that it investigated the matter and verified a violation of company policy.
The termination disclosure identifies no specific investment product.
Broker-customer loans are highly regulated because financial relationships between brokers and customers may create conflicts of interest and opportunities for abuse.
The existence of the termination does not, standing alone, establish that Martin caused any customer’s investment losses. Investors with independent account concerns should evaluate those concerns based on the actual transactions, recommendations, communications, and losses involved.
FINRA Permanently Barred James Martin
On September 20, 2024, FINRA permanently barred Martin from associating with any FINRA member in all capacities.
Without admitting or denying the findings, Martin consented to FINRA’s findings that he refused to provide documents and information requested during FINRA’s investigation into the circumstances surrounding the Form U5 filed by Berthel Fisher. FINRA Rule 8210 Letter: Everything You Need to Know
FINRA stated that the firm’s Form U5 reported that Martin had been discharged because he borrowed money from a client.
The FINRA matter did not result in a finding of fraudulent, manipulative, or deceptive conduct.
Nevertheless, Martin’s refusal to provide requested information resulted in a permanent bar from the securities industry.
James Martin Customer Complaint Involving Variable Annuities
Martin’s current BrokerCheck record also reports a customer dispute involving two variable annuities purchased in January 2024.
After Martin’s termination, the customer alleged that the two qualified variable annuities were inappropriate given the customer’s age and financial circumstances.
The customer also alleged that documents misstated his financial circumstances and sought reimbursement for surrender charges and related fees.
The complaint alleged approximately $32,000 in damages.
The matter was ultimately reported as settled on May 2, 2025 for $33,142.87.
Martin personally contributed $0 to the settlement.
Berthel Fisher reported that it continued to maintain that the original annuity purchases were in the customer’s best interest based on the customer’s stated goals, objectives, and other factors. The firm stated that it elected to reimburse surrender charges with interest after the annuities were surrendered.
Investors who suffered losses involving similar products can review our information concerning variable annuities and equity-indexed annuities.
Depending on the facts, recommendations involving products that are inconsistent with an investor’s age, liquidity needs, objectives, financial condition, or risk tolerance may also support an unsuitable investment claim.
James Martin Red Flags & Your Rights as an Investor
Martin’s termination, subsequent FINRA bar, and customer-dispute history may warrant closer review by former customers.
These disclosures do not prove that Martin caused losses in every customer account. However, former customers should consider reviewing their accounts for independent signs of potential misconduct, including:
- Investments inconsistent with their objectives or risk tolerance
- Variable annuities with substantial surrender charges
- Account documents containing inaccurate financial information
- Unexplained withdrawals or transfers
- Requests for personal loans or other financial arrangements with a broker
- Investments they did not fully understand
- Transactions or recommendations inconsistent with their liquidity needs
If you identify questionable activity, preserve your account statements, investment documents, emails, text messages, and other communications.
Did You Lose Money Because of Broker Misconduct?
Investors may have claims when losses result from fraud, unsuitable recommendations, misrepresentations, conflicts of interest, negligence, or other actionable misconduct.
Depending on the circumstances, claims involving financial advisors can include negligence and breach of fiduciary duty.
Brokerage firms also have independent duties to supervise their registered representatives. If inadequate oversight contributes to investor losses, a potential failure to supervise claim may warrant investigation. Suing Your Financial Advisor or Broker Over Investment Losses
An attorney experienced in broker-dealer misconduct can investigate both the individual financial professional’s conduct and the brokerage firm’s potential responsibility.
Can I File a FINRA Arbitration Claim Against Berthel Fisher?
Many disputes between brokerage customers and FINRA-member firms are resolved through FINRA arbitration.
An experienced FINRA arbitration lawyer can analyze the investor’s account, recommendations, communications, supervisory records, and damages and determine whether a viable claim exists.
Potential FINRA claims are subject to eligibility requirements and other legal deadlines, so investors should not delay seeking legal advice after discovering potentially actionable misconduct. FINRA Statute of Limitations
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 833-300-6983.
File A Claim To Recover Your Investment Losses At Berthel, Fisher & Company Financial Services, Inc. Due To James Martin
If you have questions concerning Berthel, Fisher & Company Financial Services, James Martin, or the management and performance of your investment accounts, contact Attorney Robert Wayne Pearce for a free initial consultation.
The investment fraud lawyers at the Law Offices of Robert Wayne Pearce, P.A. represent investors in claims involving unsuitable investments, negligence, fiduciary breaches, brokerage-firm supervision failures, variable annuities, conflicts of interest, and other securities misconduct.
Call 866-860-8507 to discuss your potential claim.
