Ryan Beishuizen, a broker and investment advisor with Securities America, Inc., is facing allegations of misconduct from a client who claims he was misled about the risks associated with his investments. The customer dispute, filed on January 9, 2024, alleges that Beishuizen told the client he “would never lose money” on his investments. The client is seeking damages of an undisclosed amount, but the claim was denied by the firm.
According to Beishuizen’s FINRA BrokerCheck report, he has been registered with Securities America, Inc. (CRD #10205) in the state of Michigan since December 14, 2022. In response to the allegations, Beishuizen stated, “I disagree with the client’s allegations.” The case is currently under investigation by Haselkorn & Thibaut, a national investment fraud law firm, which is offering free consultations to clients who may have suffered losses due to Beishuizen’s alleged misconduct.
Investment fraud and bad advice from financial advisors can have devastating consequences for investors. According to a Bloomberg article, the Securities and Exchange Commission (SEC) charged former Wells Fargo executives for misleading investors about the company’s financial performance, highlighting the importance of transparency and accurate representations in the financial industry.
Understanding the Allegations and FINRA Rules
Table of Contents
The client’s claim revolves around the alleged promise that they “would never lose money” on their investments. If true, this statement would violate FINRA Rule 2020, which prohibits the use of manipulative, deceptive, or fraudulent devices in connection with the purchase or sale of securities.
Suitability and Fair Dealing
FINRA Rule 2111 requires brokers to have a reasonable basis to believe that a recommended transaction or investment strategy is suitable for the customer, based on the customer’s investment profile. This profile includes factors such as age, financial situation, investment objectives, and risk tolerance. If Beishuizen made promises that were inconsistent with the client’s risk tolerance or investment objectives, he may have violated this rule.
The Importance of Accurate Representations
Misrepresenting the potential risks or returns of an investment is a serious violation of FINRA rules and can lead to significant losses for investors. When brokers make false promises or guarantees, they may encourage clients to invest in products that are not suitable for their needs or risk tolerance, leading to unexpected losses.
Protecting Investor Rights
Cases like this underscore the importance of working with trustworthy financial professionals who prioritize their clients’ best interests. Investors who believe they have been misled or suffered losses due to misconduct by their broker or investment advisor should seek legal guidance to understand their rights and potential avenues for recovery.
Recovering Losses Through FINRA Arbitration
Investors who have suffered losses due to broker misconduct may be able to recover damages through FINRA arbitration. This process allows investors to seek compensation for losses caused by violations of FINRA rules, securities laws, or other forms of misconduct.
Haselkorn & Thibaut, a national investment fraud law firm with offices in Florida, New York, North Carolina, Arizona, and Texas, is currently investigating the allegations against Ryan Beishuizen and Securities America, Inc. With over 50 years of combined experience and a 98% success rate, the firm has a proven track record of helping investors recover losses through FINRA arbitration.
Red Flags for Financial Advisor Misconduct
Investors should be aware of potential red flags that may indicate misconduct by their financial advisor, such as:
- Promises of guaranteed returns or no risk of loss
- Pressure to make quick investment decisions
- Lack of transparency regarding fees or investment strategies
- Inconsistencies between verbal promises and written documents
Seeking Legal Guidance
If you suspect that you have been a victim of investment fraud or misconduct, it is essential to seek legal guidance from experienced professionals. Haselkorn & Thibaut offers free consultations to help investors understand their rights and explore potential options for recovery.
Investors can contact the firm’s toll-free number at 1-888-628-5590 to schedule a consultation. The firm operates on a “No Recovery, No Fee” basis, meaning clients only pay if a recovery is secured on their behalf.
Protecting Your Financial Future
As the investigation into the allegations against Ryan Beishuizen and Securities America, Inc. unfolds, it serves as a reminder of the importance of working with reputable financial professionals and staying vigilant against potential misconduct. By understanding their rights and seeking appropriate legal guidance when necessary, investors can take steps to protect their financial future and recover losses stemming from broker misconduct.
