The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Kirk Bertsch. According to his publicly available FINRA BrokerCheck report, Kirk Bertsch has been the subject of a FINRA sanction.

Kirk Bertsch was a South Dakota based securities broker. He worked in the securities industry for eighteen years. During his career, he was registered with two different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

  • Investors Brokerage Services (2000)
  • Farmers Financial Solutions (2000-2018)

The Allegations

Kirk Bertsch was officially sanctioned by FINRA in February 2019. The findings in this matter state that he took part in an undisclosed and unapproved private securities transaction after recommending a non-traded REIT to an investor. This fund later filed for bankruptcy. Due to the allegations, Kirk Bertsch was suspended from the securities industry for one month and forced to pay $1,500 in disgorgement. He had been terminated from his position at Farmers Financial Solutions the previous August when the allegations first came to light.

What Does This Mean?

Non-traded real estate investment trusts, or REITs, are privately traded alternative investments that do not trade on any public securities exchanges. They are very poorly regulated and can often prove to be incredibly harmful to investors. This is because they are incredibly speculative and illiquid investments that are often accompanied by incredibly high upfront fees. These fees are so excessive that they drain principal investments to the point of making it incredibly difficult to see returns under anything besides a booming market. Some securities brokers often take advantage of how poorly these products are regulated as it gives them ample opportunity to misrepresent these securities as safe and lucrative.

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 Kirk Bertsch, 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.