Haselkorn & Thibaut, a nationally recognized investment fraud law firm, has launched a comprehensive investigation into Randy L. (Lee) Birkinbine (CRD# 2008599) of Ausdal Financial Partners, Inc. If you’ve worked with this advisor or have questions about your investments, now is an excellent time to review your accounts and understand your options for potential recovery. We offer a 100% free consultation and never charge fees unless we win for you. Call our dedicated FINRA arbitration team at 1-888-994-8066 today.
About Randy L. (Lee) Birkinbine and Ausdal Financial Partners
Table of Contents
Randy L. Birkinbine is a registered financial advisor based in North Oaks, Minnesota. He has been licensed since 1990 and registered with Ausdal Financial Partners, Inc. (CRD# 4773) since October 2016. Mr. Birkinbine also operates B & N Financial, LLC and has a past history spanning several industry firms, demonstrating extensive experience in the financial services sector.
| Advisor Name | CRD# | Current Firm | Location | Industry Experience |
|---|---|---|---|---|
| Randy L. (Lee) Birkinbine | 2008599 | Ausdal Financial Partners, Inc. | North Oaks, MN | Registered since 1990 |
Key Background Information
- Current Position: Registered with Ausdal Financial Partners, Inc. since 2016
- Prior Firms:
- Workman Securities Corporation (2007–2011)
- Invest Financial Corporation (2003–2007)
- FSC Securities Corporation (2002)
- Lutheran Brotherhood Securities Corp. (1990–2002)
- Other Affiliations: Owner, B & N Financial, LLC, and Birkinbine Insurance Production (Investment planning/insurance sales)
Complaints, Lawsuits & Regulatory Concerns
Haselkorn & Thibaut’s review—along with summary findings on FINRA BrokerCheck—reveals multiple customer arbitrations, settled complaints, and pending investment loss claims related to Mr. Birkinbine’s conduct as a financial advisor. Investors deserve to understand the nature and status of these matters, particularly if they hold, or previously held, illiquid or alternative investments recommended by him.
| Year/Date | Status | Allegations | Products Involved | Damages (Sought/Settled) |
|---|---|---|---|---|
| April 2024 (FINRA 24-00857) |
Pending | Unsuitable recommendations, lack of due diligence, Reg BI violations, over-concentration |
GWG L Bonds, CIM Real Estate Trust, MCI Preferred Equity Fund, Priority Income Fund, Terra Secured Income Fund 5, Coachman Energy |
$500,000 (sought) |
| February 2024 (FINRA 24-00402) |
Settled | GWG L Bond suitability/other alternative investment concerns | GWG L Bonds | $41,500 (settled) |
| January 2024 (FINRA 24-00081) |
Settled | GWG L Bond suitability/related claims | GWG L Bonds | $62,500 (settled) |
| August 2025 | Pending | Alleged breach of fiduciary duty re: GWG L Bond recommendation | GWG L Bonds | $75,000 (sought) |
Primary Red Flags for Investors
- Multiple pending customer disputes and recent settlements involving allegations of unsuitable investment advice and lack of due diligence on illiquid and high-risk securities
- Focus on GWG L Bonds and similar alternative investments, which carry unique risks not always suitable for conservative or moderate investors
- Disclosure of outstanding tax liens, which may indicate possible financial distress
- Discharged by a prior employer, potentially a sign of compliance or supervisory concerns
- Alleged violations of fiduciary obligations and claims related to Minnesota “Blue-Sky” law
Details of Complaints and Allegations
- Unsuitability & Over-Concentration: Multiple claims assert that Mr. Birkinbine recommended large proportions of client assets into illiquid, non-traded investments, including alternative products like GWG L Bonds, which subsequently suffered significant declines in value.
- Lack of Due Diligence: Allegations that sufficient research and review of these complex investments was not completed prior to recommending them to retail investors.
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Breach of Fiduciary Duty: Failure to act in the best interests
Disclaimer: The information contained in any post on this website is derived from publicly available sources and is not guaranteed as to accuracy and often involves allegations which may or may not be proven at some point in the future. All posts are believed to be accurate as of the time of original posting, but the accuracy and details are subject to and expected to change over time and which may contain opinions of the author at the time posted.
