Kimberly Ann Barentsen (Kimberly Barentsen) – Financial Advisor/Broker Kimberly Barentsen Suspended from the Securities Industry | Goodman & Nekvasil, P.A. May Recover Investor Losses
Kimberly Ann Barentsen (Kimberly Barentsen) CRD #2092280
Kimberly Barentsen is a currently licensed financial advisor with NPB Financial Group, LLC and Barentsen Advisory Services, LLC. Kimberly Barentsen was a previously licensed financial advisor with First Allied Advisory Services, Inc. and First Allied Securities, Inc. FINRA reports that Kimberly Barentsen was fined $5,000.00 and suspended from the securities industry for two months beginning in September 2020.
According to FINRA Allegations:
Kimberly Barentsen consented to the sanctions and to the entry of findings that Kimberly Barentsen exceeded the scope of her approved outside investment advisory business by charging asset-management fees. The findings stated that Kimberly Barentsen created her own registered investment adviser of which Kimberly Barentsen was the sole owner and employee. In seeking approval for this outside business, Kimberly Barentsen told her member firm in an email and in a disclosure questionnaire that Kimberly Barentsen’s advisory business would only charge hourly fees and fixed one-time financial planning fees. The firm approved Kimberly Barentsen’s outside business based on these representations. Kimberly Barentsen began offering a new service to her advisory clients where Kimberly Barentsen would charge an annual 1.5 percent asset-management fee for managing variable annuity subaccounts. Kimberly Barentsen did not disclose this new service or the associated fees to the firm. The findings also stated that Kimberly Barentsen made inaccurate statements in her annual compliance questionnaires to the firm. In response to the questions asking whether Kimberly Barentsen’s advisory business had assets under management and if Kimberly Barentsen was compensated through a percentage of the assets under management, Kimberly Barentsen incorrectly stated that she did not manage assets and only charged hourly fees.
According to Kimberly Barentsen’s BrokerCheck Report, Kimberly Barentsen was discharged from First Allied Securities, Inc. in March 2019. First Allied Securities, Inc. alleged that Kimberly Barentsen did not comply with the Firm’s policies by not timely and accurately disclosing the extent of the services offered by Kimberly Barentsen through her registered investment adviser firm.
Goodman & Nekvasil P.A. May Recover Investor Losses
If you lost money on investments with Kimberly Barentsen and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Kimberly Barentsen’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Kimberly Barentsen and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Some of the information in this blog post was obtained on 8/25/2020 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.