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Meyer Wilson Investigates Broker Daniel Barnard for Unsuitable Investment Recommendations

Former Berthel Fisher Broker Accused of Wrongdoing Including Unsuitable Recommendations and Misrepresentation

Daniel Barnard, a former broker with Berthel Fisher & Company Financial Services, Inc., has been the subject of multiple customer complaints. He is accused of making illiquid, unsuitable investments on behalf of clients. He has moved brokerage firms several times since he was terminated from Berthel Fisher in 2018.  He is currently a broker with Cabin Securities, Inc. 

At Meyer Wilson, we are investigating allegations of wrongdoing against stockbrokers and financial advisors, including Daniel Barnard. Our experienced attorneys have recovered millions of dollars in investment losses for our clients. We have represented thousands of aggrieved investors nationwide and offer a free, no-obligation consultation. Contact our office today at (614) 532-4576 to discuss your case with an attorney. 

Customer Disputes Against Daniel Barnard

According to Daniel Barnard’s BrokerCheck report, the broker has five disclosures, including one pending customer dispute. The pending customer dispute from May 27, 2022, alleges that he breached his fiduciary duty with regard to oil and gas investments. The client claims that the recommendation of an approximately $25,000 investment in an oil and gas investment was unsuitable.

Prior to the current dispute, another claim was settled by Berthel Fisher & Co. for allegations that investments purchased from 2011 until 2017 were “illiquid and not suitable” for him. Furthermore, the client alleged that Barnard misrepresented the offerings, including direct investments, real estate securities, and oil and gas investments. 

Unsuitable recommendations include those which are not in the best interest of an investor based on several factors, including their investment objectives, financial situation, risk tolerance, and experience. 

Allegations Leading to Employment Separation

In addition to multiple customer disputes, Barnard has two “Employment Separation After Allegations” reports. In 2008, he was discharged from Capital Analysts Incorporated after allegedly failing to follow the firm’s “policies and procedures with respect to borrowing money from a client.”

More recently, in 2018, Barnard was terminated from Berthel Fisher & Company Financial Services, Inc. after reportedly impersonating a client via telephone. Barnard has worked with seven firms, including Sun Investment Services Company and Pruco Securities Corporation. 

Contact Our Office for a Free Consultation

If you suffered losses after investing with Daniel Barnard or another broker accused of misconduct, you might be entitled to recover losses through litigation or FINRA arbitration. Contact our office at (614) 532-4576 to schedule a free consultation. 

At Meyer Wilson, we are well-versed in recovering investment losses. To date, we have secured over $350,000,000 on behalf of our clients and will continue to fight for those harmed as a result of investment fraud and stockbroker misconduct. We offer experienced, dedicated representation for clients across the nation.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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