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

Christopher Hermann was an Indiana based securities broker. He worked in the securities industry for fifteen years. During his career, he was registered with seven different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Robert W. Baird & Co. (2000-2001)
  • Northwestern Mutual Investment Services (2000-2001)
  • Merrill Lynch (2001-2003)
  • PFIC Securities Corporation (2003-2004)
  • Morgan Keegan & Company (2004-2008)
  • David A. Noyes & Company (2008-2011)
  • Key Investment Services (2011-2015)

The Allegations

  • In November 2007, a customer alleged that Christopher Herrmann recommended unsuitable investments, made material misrepresentations, and breached his fiduciary duty. These allegations were in connection to the purchase of a mutual fund. This case was settled for $72,000 in damages.
  • In December 2008, a customer alleged that Christopher Herrmann made material misrepresentations of risk. This case was settled for $12,018 in damages.
  • In December 2009, an attorney, on behalf of a customer, alleged that the investments Christopher Herrmann placed the customer in were unsuitable based on her age and lack of investment experience. This case was settled for $210,000 in damages.
  • In April 2015, a customer alleged that Christopher Herrmann recommended unsuitable investment recommendations and omitted material facts. This case was settled for $18,726 in damages.
  • In October 2016, a customer alleged that Christopher Herrmann made unsuitable investment recommendations. This case was settled for $22,339 in damages.
  • In October 2018, Christopher Herrmann was officially sanctioned by FINRA. The findings in this matter state that he recommended annuity transactions to retired and elderly customers while failing to facilitate the transactions as a tax-free 1035 exchange, which resulted in significant tax liabilities to the customers. The alleged actions were deemed highly unsuitable by FINRA. Due to these alleged actions, he was fined $10,000 and suspended from acting as a securities broker in any fashion for a period of nine months.

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 Christopher Herrmann, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.