Compromise

Satisfied/Released

NEWBRIDGE SECURITIES CORPORATION

Discharged

VIOLATION OF FIRM POLICY REGARDING HIS MISREPRESENTATION RELATED TO A THIRD PARTY VENDOR.

I feel the compliance officers of the firm did not understand how the relationship with the third party vendor worked that the broker dealer itself had introduced me to, and that the current compliance officers failed to bring themselves up to speed when they assumed their most recent positions. They specifically failed to make and/or distribute any broker dealer rules or guidelines when dealing with said vendor, and then over reacted by terminating me for supposedly violating the non-existent firm policies when they discovered they had no idea whatsoever how the relationship worked.

In a series of emails beginning January 31, 2016, client alleged that the Rep sold him and his wife's AIG annuity policies with single coverage instead of the joint survivorship benefits coverage as they had requested. Client believes the right decision is to request the Rep make up the difference of $6.5K per year for the remainder of their lives.

$6,500.00

$11,800.00

I categorically deny any wrongdoing. The annuities I recommended were suitable, consistent with the clients' objectives and properly configured for maximum income. Regrettably, and without my input, the clients made changes to the annuities which compromised their return. I settled the matter in mediation for less than the cost of taking the matter through arbitration.

BERTHEL FISHER & COMPANY FINANCIAL SERVICES, INC.

Discharged

MISREPRESENTATION THAT A LIEN HAD BEEN PAID. FAILED TO INFORM THE FIRM HE BORROWED MONEY FROM A CLIENT. HOLDING CUSTOMER FUNDS.