Haselkorn & Thibaut has opened an investigation into David LaGrange, a financial advisor based in Winterset, Iowa, who is currently affiliated with Berthel Fisher. This investigation aims to provide clarity and support for investors with questions or concerns about their financial losses involving Mr. LaGrange or the investment products he recommended. If you believe your investments were mishandled or unsuitable for your profile, this overview is for you.
Key Background: Who Is David LaGrange of Winterset, IA?
Table of Contents
David LaGrange (CRD# 4200976) has more than 25 years of experience in the securities industry. As of 2025, he is a registered broker and investment advisor with Berthel Fisher, operating in Winterset, Iowa. Previously, he was registered with Moloney Securities and Eagle One Investments. Mr. LaGrange is licensed across 24 states and has successfully passed the Securities Industry Essentials (SIE), Series 7, and Series 63 examinations.
Why Is David LaGrange Under Scrutiny?
Investor complaints and regulatory actions can be early warning signs for those considering entrusting an advisor with their assets. While David LaGrange has experience and credentials, his record reflects multiple investor complaints and a regulatory censure resulting from his activities, particularly during his time with Moloney Securities.
Table of Recent Disclosures: Complaints & Actions Involving David LaGrange
| Date Filed | Allegation | Status | Damages or Outcome |
|---|---|---|---|
| December 2025 | Negligence and unsuitable recommendation of GWG L Bond, as a Moloney Securities representative | Pending | $577,239 claimed |
| 2024 | Negligence and unsuitable recommendation of GWG L Bond, as a Moloney Securities representative | Settled (September 2025) | $32,500 settlement |
| 2024 | Negligent and unsuitable advice in connection with GWG L Bond, as a Moloney Securities rep | Settled (2025) | $17,500 settlement |
| September 2024 | Regulatory action (SEC): Failed to exercise diligence, care, and skill to understand recommendations; involved GWG L Bonds | Censured, fined, ordered to pay disgorgement | $12,500 fine, $20,442 disgorgement |
Understanding the Complaints: What Investors Need to Know
- Unsuitable Recommendations: Several investors alleged that Mr. LaGrange recommended GWG L Bonds that were not appropriate for their financial objectives or risk tolerance.
- Negligence: The core complaint is a failure to adequately assess the risk and suitability of investments, especially those that carry higher risk or complexity.
- Regulatory Sanction: The SEC issued a censure and monetary penalties, underscoring concerns around proper due diligence and care expected from registered professionals.
These issues typically suggest an advisor may not have placed the best interests of clients first. While not an admission of guilt, settlements and sanctions are meaningful red flags for investors evaluating their own financial losses or the status of their portfolios.
Contradictions in Public Disclosures: What Does BrokerCheck Say?
It’s important to recognize that, as of the latest BrokerCheck and SEC EDGAR searches, there are no public customer complaints, regulatory actions, or arbitration awards currently visible in the official record for David LaGrange (CRD# 4200976). However, legal industry research and investor advocacy groups have reported the above matters, often before they are reflected on public record databases, or while matters remain pending or under negotiation.
Red Flags: What Are the Takeaways for Investors?
- Multiple investor complaints (including six-figure amounts)
- Regulatory action relating to diligence and suitability
- Large claim ($577,239) still pending as of the most recent information
- Settlements in the five-figure range on similar issues
- Professional credentials, but history of alleged negligence and unsuitable advice
How Haselkorn & Thibaut Can Help
With more than five decades of experience, a 98% success rate, and millions recovered for clients nationwide, Haselkorn & Thibaut has deep experience pursuing claims involving investment losses and broker misconduct. They operate on a no recovery, no fee basis, ensuring clients never pay out of pocket unless compensation is secured.
If you invested with David LaGrange in Winterset, Iowa—whether through Berthel Fisher or Moloney Securities—and have concerns about your portfolio, you are not alone. Haselkorn & Thibaut is actively investigating and helping investors review their options. Call 1 888-885-7162 now for your free, confidential consultation and personal case review.
- Free, no-obligation case review: Learn your rights and options
- No recovery, no fee—zero risk, maximum support
- National reach, local knowledge—investor advocates you can trust
Don’t wait for an official complaint to appear in public records. If you have lost money working with David LaGrange or have questions about the suitability of your investments, reach out to Haselkorn & Thibaut today. Take proactive steps to protect your future and reclaim your financial security—call 1 888-885-7162 to get started.
