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Bryon Martinsen: Under Investigation Regarding Customer Complaints

Bryon MartinsenPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on August 30, 2016 indicate that New York-based Centaurus Financial broker/adviser Bryon Martinsen has been the subject of customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Martinsen (CRD# 1621649).

Bryon Martinsen has spent 29 years in the securities industry and has been registered with Centaurus Financial in Northport, New York since 1999. Previous registrations include AXA Advisors in New York, New York (1987-1999) and the Equitable Life Assurance Society of the United States in New York, New York (1987-1999). He is a registered broker and investment adviser with seventeen US states and territories: California, Colorado, Connecticut, Florida, Iowa, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Virginia, Washington, and West Virginia.

According to his BrokerCheck report, Bryon Martinsen has received three customer complaints and one pending customer complaint.

In July 2016 a customer alleged Bryon Martinsen, while employed at Centaurus Financial, sold products that were unsuitable and “not fully reviewed during the due diligence process.”

In 2014 a customer alleged Bryon Martinsen, while employed at Centaurus Financial, breached his fiduciary duty, committed common law fraud, acted negligently, misrepresented and omitted material facts, and breached industry rules in connection to non-traded real estate investment trusts and other investments. The complaint settled in April 2016 for $87,500.

In 2007 a customer alleged Bryon Martinsen, while employed at Centaurus Financial, sold unsuitable variable annuity and mutual fund products that were not fully explained. The complaint settled in 2008 for $7,227, to which Mr. Martinsen individually contributed $7,227.

In 2005 a customer alleged Bryon Martinsen, while employed at AXA Advisors, made unsuitable recommendations, misrepresented and omitted material facts, committed fraud, acted negligently, breached contract, and breached his fiduciary duty. The complaint settled in 2007 for $50,000, to which Mr. Martinsen individually contributed $35,000.

A real estate investment trust, or REIT, is an entity that owns assorted forms of real estate, or interests in real estate. As an investment product, REITs use the combined funds from a pool of investors to purchase real estate property; they can be publicly traded or privately held, traded on the stock market or not traded at all. As such, they are highly illiquid investments. While they have the benefit of extending new opportunities to investors who otherwise could not access certain real estate investments, non-traded REITs may be particularly risky for short-term investors and even long-term investors. They are additionally taxed on an individual level and can lead to property taxes as high as 25% of the sum operating expenses. Investment professionals who recommend unsuitable REITs may be subject to disciplinary action by FINRA or the Securities and Exchange Commission.

If you have complaints regarding Bryon Martinsen, you may be able to recover lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on contingency: Fitapelli Kurta only gets paid if and when you recover money. You may have a limited window to file your claim, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.