Jon Lindberg, Formerly with ProEquities, Subject to Montana Securities Complaint
Have you lost money with financial advisor Jon Lindberg of Birmingham, Alabama? We are investigating allegations made by the Montana Securities Commission against Jon P. Lindberg and his firm, First Advisors Capital. According to the complaint filed against Lindberg, Lindberg advised a client to move his account to Folio Investments and then TD Ameritrade. Lindberg engaged in a risky options trading spree, which caused significant damage to the elderly client. Lindberg engaged in this conduct while he was affiliated with ProEquities.
Jon Lindberg was a representative of ProEquities from 1989 to August 2018. He worked at a branch office in Birmingham, Alabama. Lindberg has two customer complaints on his record. Lindberg was also terminated by ProEquities.
Brokerage firms like ProEquities have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Seattle, Washington; Denver, Colorado; Phoenix, Arizona; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors throughout Montana. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including against ProEquities.