Bryon Martinsen, Broker for Centaurus Financial, Named in Multiple Customer Complaints Alleging Unsuitable Investment Recommendations

Martinsen’s most recent customer complaint is seeking $5M in damages.

The Sonn Law Group is investigating allegations that Bryon Martinsen made unsuitable investment recommendations. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Bryon Martinsen (CRD#: 1621649) has an extensive history of customer disputes on his BrokerCheck report. He is currently employed as a broker for Centaurus Financial and has been since 1999. 

Bryon Martinson has eleven disclosures on his BrokerCheck report.

April 2020 Customer Dispute

• Status: Pending
• Allegations: “During the period 2013 through April 2020, the customers allege that the Registered Representative misrepresented and concentrated the claimant’s account(s) in unsuitable investments.”
• Damage Amount Requested: $5,000,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the allegations are completely without merit. The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment. The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

April 2019 Customer Dispute

• Status: Pending
• Allegations: “Customer primarily alleges that the financial advisor recommended unsuitable investments and several other allegations associated therewith beginning in 2009 through October 2018.”
• Damage Amount Requested: $1,700,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the allegations are completely without merit. The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after her review of all material documentation related to the investment. The customer confirmed in writing that she not only received the requisite investment documentation/disclosures, but that she fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

February 2019 Customer Dispute

• Status: Settled
• Allegations: “Customer primarily alleges that the financial advisor recommended unsuitable investments and several other allegations associated therewith from September 2009 through 2015.”
• Damage Amount Requested: $127,000.00
• Settlement Amount: $25,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the allegations are completely without merit. The investments about which she complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after the customer’s review of all material documentation related to the investment. The customer confirmed in writing that she not only received the requisite investment documentation/disclosures, but that she fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

June 2018 Customer Dispute

• Status: Settled
• Allegations: “The client alleges unsuitable investments, misrepresentations, and omissions of material risks, in connection with the sale of various investments.”
• Damage Amount Requested: $231,244.71
• Settlement Amount: $10,000.00
• Broker Comment: “This complaint is without merit and I categorically deny any wrongdoing in this matter. The customer fully understood the characteristics, features, and risks of the investments purchased. Furthermore, the investments were suitable for the customer based on her financial situation, investment objectives, and risk tolerance level.”

July 2016 Customer Dispute

• Status: Withdrawn
• Allegations: “Clent alleges the Firm allowed products to be sold that were both unsuitable and not fully reviewed during the due diligence process.”
• Damage Amount Requested: $1,787,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. The customer confirmed in writing that they not only received the requisite investment documentation, but that they understood its content. The investments about which they complained were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after the customer’s review of all material documentation related to the investment. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

September 2014 Customer Dispute

• Status: Closed-No Action
• Allegations: “Allegations include breach of fiduciary duty, breach of contract, misrepresentation, omissions of material information, self-dealing and selling away pertaining to the investments purchased from 2005 to 2007.”
• Damage Amount Requested: $100,000.00

September 2014 Customer Dispute

• Status: Settled
• Allegations: “Allegations include breach of fiduciary duty, common law fraud, negligence misrepresentation/omissions, and negligence/breach of industry rules pertaining to the purchases of non-traded real estate investment trusts, the leasing equipment funds and private placements purchased between 2005 and 2009.”
• Settlement Amount: $87,500.00
• Broker Comment: “Customer complaint received on 9/17/2014 evolved into an arbitration claim 11/24/2014. Representative is not named.”

June 2009 Judgment/Lien

• Judgment/Lien Amount: $26,823.00
• Judgment/Lien Type: Civil
• Broker Comment: “BMW would not honor their warranty for a problem they fixed three times before car caught on fire.  I had a voluntary repossession back in 2006. I was surprised to see a judgment since I handed this to my attorney.”

June 2007 Customer Dispute

• Status: Settled
• Allegations: “8/12/2002 to present customer was sold unsuitable variable annuities and mutual funds products, that were not fully explained. No compensatory damage amount specified.”
• Settlement Amount: $7,227.00
• Broker Comment: “[Customers’] son thought I didn’t leave enough assets liquid, even though they never needed a penny for 15 years. They had access to almost 100K per year.”

September 1999 Employment Separation After Allegations

• Firm Name: Axa Advisors, Inc.
• Termination Type: Discharged
• Allegations: “Martinsen was involved in outside business activities which he had previously been advised to cease and desist.”

Contact Us Today

The Sonn Law Group is currently investigating allegations that Bryon Martinsen made unsuitable investment recommendations. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.