Haselkorn & Thibaut (InvestmentFraudLawyers.com) is exploring potential sales practice and oversight issues associated with a financial advisor, Tim Vanlohuizen with Sagepoint Financial, Inc. (2005-present) in Coeur d’Alene, ID.
The lawyers of Haselkorn & Thibaut have been investigating potential sales training and supervision issues about Tim Vanlohuizen and other current and former financial advisors with Sagepoint Financial, Inc. The experienced team at Haselkorn & Thibaut, P.A., represents investors nationwide in pursuing private Financial Industry Regulatory Authority (FINRA) customer disputes and helping customers recover their investment losses.
Sagepoint Financial and Tim Vanlohuizen Investigation
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According To FINRA Brokercheck, Tim Vanlohuizen is currently enrolled with FINRA (CRD #2166867) and presently employed by Sagepoint Financial, Inc. Also, it seems he has a total of 7 individual disclosures appearing on his FINRA Brokercheck report.
One customer dispute disclosure resulted in an Award or Judgment, one customer dispute was refused, three were settled, and two remain pending (as of April 2020). The allegations related to the client dispute disclosures include (but are not limited to) unsuitability, excessive trading, churning, bad management of retirement accounts, negligence, misrepresentation, and breach of fiduciary duty.
At least one pending customer dispute refers to problems related to sales of oil and gas investments. The allegations of the pending customer disputes might potentially involve supervision issues for Sagepoint Financial, Inc.
In October 2017, Financial Advisor Magazine (FA-mag. Com) article entitled Firm Does What FINRA Won’t: Rates 30 Worst Brokerage Firms, where the Securities Litigation & Consulting Group (SLCG) had done exactly what regulators have repeatedly declined to do — published the worst-ranked brokerage companies in the securities industry, noting in doing so that FINRA Brokercheck data from 2007-2016 reflects that only 2.6% of agents at firms of over 200 agents have customer complaints. This is possibly an industry average type benchmark. Based on FINRA Brokercheck (as noted above), Tim Vanlohuizen now has seven disclosures.
It could involve high-yield or junk bond investments, and others may include a limited partnership or MLP investments. To the extent, the earnings of oil and gas investments consist of alternative investments. These alternative investments rarely produce profits for investors and are often misrepresented or simply unsuitable for many retail investors due to their illiquidity, high fees, and cost structure. Financial advisors selling these products are usually paid higher than the average commission to incentivize them to hype these otherwise inferior quality investments, thus creating an artificial market for these investments.
Firms they work for that supervise the approval and sale of such products (like Sagepoint Financial, Inc.) have a responsibility to treat investors fairly that includes making only suitable investment recommendations after conducting due diligence. Due diligence consists of an independent investigation by the company into the investment’s possessions, including its benefits, risks, tax consequences, issuer, history, and other relevant factors. Appropriate due diligence would identify an alternative investment’s high costs, illiquidity, and conflicts of interest.
What to do if you have knowledge regarding Tim Vanlohuizen or Sagepoint Financial?
Haselkorn & Thibaut, P.A. is exploring these issues, and if you are a current or former client of Tim Vanlohuizen or Sagepoint Financial, Inc. with knowledge concerning any of the problems related to any sales practice or supervision problems involved in the handling of your investment accounts, please contact our offices.
Haselkorn & The two name partners have over 45 years of combined legal experience representing investors (both individual and institutional investors) trying to aggressively pursue their claims and maximizing client recoveries of investment losses for victims of neglect or investment fraud. For investors confronted with investment losses, a FINRA Dispute Resolution customer dispute might be the best way to go if you would like to recover your losses in a private, confidential, and efficient option (compared to national or state court litigation).
One of the best decisions you can make in this process is to consider having experienced securities mediation lawyers by your side, to help you maximize your potential recovery of investment losses. The securities mediation attorneys in Haselkorn & Thibaut, P.A. (InvestmentFraudLawyers.com) can help you from start to finish in this process. This FINRA Dispute process is a personal arbitration process between you and your broker firm. There are typically no depositions, and the process is intended to be a faster, more efficient, and less expensive alternative to court litigation.
The sole purpose of this note is to Investigate how Tim Vanlohuizen or Sagepoint Financial, Inc. handled Investment recommendations and transactions with investors as well as the If you have any knowledge or experience with these Matters, please contact Haselkorn & Thibaut, P. A. at www.investfraudlawyers.com or telephone 1-888-628-5590.