Founded in 1994, Packerland Brokerage Services, Inc. (“PBSI”) is an independent broker-dealer headquartered in Green Bay, Wisconsin. As of December 14, 2022, the firm had 3,978 clients (nearly 60% individuals) and $740.7M in assets under management (AUM). It has 149 employees, with brokers who are licensed in all 50 states as well as the District of Columbia.

Financial Misconduct at Packerland Brokerage Services, Inc.

PBSI is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.

PBSI and brokers backed by PBSI have a history of misconduct.

In December 2017, the Securities and Exchange Commission (SEC) initiated a claim against PBSI (and another firm). From at least January 2012 through December 2015, the firm was found to have made inadequate disclosures and failed to seek the best execution for their clients related to particular class of mutual fund shares. As a result, PBSI was ordered to pay disgorgement of $432,949.80, prejudgment interest of $23,937, and a civil penalty of $80,000.

Based on its BrokerCheck report, the firm also has a history of failing to supervise its representatives.

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