The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Bradley Renberg. According to his publicly available FINRA BrokerCheck report, Bradley Renberg has been the subject of multiple customer disputes.

Bradley Renberg is an Iowa based securities broker. He has worked in the securities industry for twenty-seven years. During his career, he has been registered with three different securities firms.

His Registrations

  • Hubbard Brown & Co. (1991-1992)
  • Ameriprise Advisor Services (1993-2009)
  • Ameriprise Financial Services (2009-Present)

The Allegations

  • In May 2000, a customer alleged that Bradley Renberg recommended unsuitable investments, misrepresented key details, breached his fiduciary duty, and excessively traded their account. This case went to arbitration where the customer was awarded $130,000 in damages.
  • In December 2000, a customer alleged that Bradley Renberg breached contract, breached his fiduciary duty, violated securities laws, made omissions of fact, made an unauthorized purchase, and handled their account negligently. This case was settled for $105,000 in damages.
  • In February 2018, a customer alleged that Bradley Renberg recommended unsuitable investments and executed unauthorized trades.
  • In May 2019, customers alleged that Bradley Renberg recommended unsuitable investments in high-risk securities in the energy and retail sectors. This case is currently pending. The customer is seeking $380,000 in damages.

Unsuitable Investments

Most investors are unable to invest in securities that are suitable for them without the aid of a financial advisor. This is why most investors hire securities brokers. So that the broker can recommend to them what investments would be suitable for them based on their investment objectives, age, financial situation, liquidity needs, and risk tolerance. Securities brokers like Bradley Renberg are expected to be able to determine suitability by analyzing these factors. Because of this, brokers cannot excuse themselves by claiming they were unaware of an investment’s unsuitability. Sometimes, less than scrupulous securities brokers will place investors in high-risk products they are not financially suited for because of the large commissions they receive when doing so.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages. Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Bradley Renberg, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.