Tim Vanlohuizen (CRD#: 2166867), a registered representative with Sagepoint Financial, Inc. (CRD#: 133763) in Coeur d’Alene, Idaho, is currently involved in two pending customer disputes, according to his BrokerCheck record accessed on April 1, 2020. The customers are seeking a total of $450,000 in damages.
Most recently, on February 4, 2020, a client alleged that Tim Vanlohuizen recommended unsuitable investment products. As a broker, Tim Vanlohuizen is obligated to make sure that he only recommends investments that are “suitable” for a client given their short-term and long-term investment goals, age, risk tolerance, need for liquidity, and other factors. In this case, the client is alleging that he failed to do this. The client is seeking $100,000 in damages.
On May 29, 2019, another client filed a complaint against Tim Vanlohuizen, alleging that he acted negligently, made unsuitable investment recommendations, made misrepresentations, and breached his fiduciary duty. The investments at issue are precious metals and oil and gas investments. These are often highly speculative private placements that are not suitable for the average retail investor. The client is seeking $350,000 in damages.