The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Mark Jensen. According to his publicly available FINRA BrokerCheck report, Mark Jensen had been the subject of multiple customer disputes.

Mark Jensen was a Minnesota-based securities broker who had worked in the securities industry for fifteen years. During his career, he had been registered with three different securities firms.

His Registrations 

  • IDS Life Insurance Company (1996-2006)
  • Ameriprise Financial Services (1996-2012)

The Allegations 

  • In February 2018, a customer alleged that Mark Jensen made material misrepresentations regarding investments, breached his fiduciary duty, and managed their account negligently. This case was settled for $225,000 in damages.
  • In March 2018, customers alleged that Jensen acted negligently and breached fiduciary duty. This case was settled for $400,000 in damages.
  • In March 2018, customers alleged that Jensen acted negligently, made material misrepresentations regarding investments, and breached fiduciary duty. This case was settled for $427,329 in damages.
  • In May 2018, customers alleged that Jensen breached fiduciary duty, managed their account negligently, and breached contract. This case went to arbitration where the customer was awarded $272,029 in damages.
  • In May 2018, a customer alleged that Jensen breached fiduciary duty. This case was settled for $60,000 in damages.
  • In January 2020, customers alleged that Jensen breached fiduciary duty, made misrepresentations and omissions of details regarding investments, and engaged in wrongful conduct. This case is currently pending, and the customers are seeking $200,000 in damages.
  • In April 2020 customers alleged that Jensen managed their account negligently, breached his fiduciary duty, and made misrepresentations regarding an investment. This case is currently pending, and the customers are seeking $361,262 in damages.

Fiduciary Duty

The relationship between investors and securities brokers exists on a foundation of trust. The reason that investors can generally feel secure in trusting their broker is because they are aware that brokers are obligated to always act in their customers’ best financial interests. This obligation is also known as the broker’s fiduciary duty. Brokers who breach this duty work toward the erosion of that trust, which in turn can significantly damage the broker/investor relationship.

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 due to this fraud or negligence 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 Mark Jensen, 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.