The client, through his counsel contacted the Firm's counsel regarding potential claims relating to suitability of the alternative investments purchased by the client from 2011 through 2016.

$82,500.00

The claimants allege the investments purchased between 2010-2015 were unsuitable and misrepresented to them by the representative. The claimants further allege the firm failed to supervise the activities of the representative and allege the firm failed to conduct adequate due diligence.

$250,000.00

$40,000.00

The clients allege the REIT they purchased in 2010 was misrepresented to them. They allege the representative guaranteed the safety of their original investment and told them they would never lose the money they invested.

$25,000.00

The clients allege that the investments they purchased in 2015 were unsuitable and misrepresented by the representative. They also allege that the firm failed to supervise the actions of the representative.

$212,000.00

$62,000.00

The client alleges the investment he purchased in February of 2009 was unsuitable and misrepresented to him by the representative. The client also alleges the firm failed to supervise the actions of the representative.

$300,000.00

Berthel Fisher & Company

Discharged

Failure to disclose tax liens in a timely manner to the firm.

$42,745.76

Tax

My business income in 2016 dropped significantly from the previous tax year due to some regulatory changes that have impacted my business. As of the date of this filing my income has not yet recovered resulting in my inability to pay certain obligations.

$29,976.21

Tax

My business income in 2016 dropped significantly from the previous tax year due to some regulatory changes that have impacted my business. As of the date of this filing my income has not yet recovered resulting in my inability to pay certain obligations.

$4,501.67

Tax

My business income in 2016 dropped significantly from the previous tax year due to some regulatory changes beyond my control which have negatively impacted my business. As of the date of this filing my income has not yet recovered resulting in my inability to pay certain obligations in a timely manner.

ALABAMA SECURITIES COMMISSION

ON 14 DEC 2010 THE COMMISSION ISSUED A SHOW CAUSE ORDER TO RESPONDENTS FOR THE OFFER AND SALE OF UNREGISTERED SECURITIES IN ALABAMA. THE SECURITIES WERE PROMISSORY NOTES. THE ORDER ALSO CITED RESPONDENTS CONNER, CUMMINGS, DOZIER, HAY, STEVENS, AND WILSON FOR SELLING PREFERRED STOCK IN AN UNSUITABLE MANNER. THE ORDER ALSO CITED WALKER FOR DISHONEST OR UNETHICAL BUSINESS PRACTICE AND CITED WALKER, LANKFORD, AND LATHAM FOR FAILURE TO SUPERVISE. THE COMMISSION ISSUED NOTICES TO THE RESPONDENTS GIVING RESPONDENTS 28 DAYS FROM DATE OF RECEIPT OF THE ORDER TO RESPOND OR PERFECT A RIGHT TO A HEARING. CONTACT S/A MICHAEL WILKERSON FOR ADDITIONAL INFORMATION.

Consent

Monetary Penalty other than Fines

IN GOOD FAITH AND UNDER PROMPTING, GUIDANCE AND ASSURANCES FROM OFFICERS OF HIS FORMER BROKER/DEALER, THE REPRESENTATIVE REFERRED CERTAIN INDIVIDUALS TO OFFICERS OF HIS FORMER BROKER/DEALER RELATING TO PROMISSORY NOTES BEING ISSUED BY THEM. THE REPRESENTATIVE NEVER EXPECTED, NOR DID HE RECEIVE, ANY PROCEEDS OR ANY FORM OF COMPENSATION ASSOCIATED WITH THE NOTES. AFTER THE FACT, IT WAS DISCOVERED THAT THE NOTES WERE NEVER PROPERLY REGISTERED WITH THE ALABAMA SECURITIES COMMISSION BY HIS FORMER BROKER/DEALER WHICH, IN TURN, CREATED THE VIOLATIONS COVERED IN THE SHOW CAUSE ORDER. ALTHOUGH HE ONLY REFERRED INDIVIDUALS AND DID NOT "SELL" FOR ANY FORM OF COMPENSATION, THE REPRESENTATIVE COULD NOT JUSTIFY THE TIME OR EXPENSE IT WOULD'VE LIKELY TAKEN TO DEFEND HIMSELF IN COURT. THE REPRESENTATIVE PAID THE STATE A MONETARY FINE IN ORDER TO SETTLE THE MATTER.

$8,360.00

Tax

$11,958.16

Tax