SagePoint Financial Broker Named In Customer Disputes
Our investor fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are looking into claims involving SagePoint Financial broker, Timothy Vanlohuizen. With 37 years in the industry, Vanlohuizen, who is based in Idaho, has been named in six customer disputes.
Allegations Currently Made Against Timothy Vanlohuizen
Of the six customer disputes that Vanlohuizen is currently involved in, investors have made the following accusations against the SagePoint Financial broker. These include a number of broker misconduct allegations including:
- Unsuitable investment recommendations
- Breach of fiduciary duty
- Poor investment advice
- Mismanagement of retirement monies
- Excessive trading
The most recent customer dispute which was brought in May 2019 purportedly involved the sale of oil and gas investments. As part of this dispute, the claimant is seeking over $350K in damages.
According to Timothy Vanlohuizen’s BrokerCheck record, he has been a SagePoint broker for the last 14 years. Prior to that, he was registered at broker-dealer firms including SunAmerica Securities, Multi-Financial Securities, and Waddell & Reed.
Broker Fraud Claims
At SSEK Law Firm, we work with investors throughout the United States helping them to recoup losses resulting from broker negligence and fraud. We also support those who have been victims of inadequate supervision by broker-dealers that enable broker misconduct or negligence.
We offer an initial free, no-obligation case consultation to help you explore your legal options.
SSEK Investigates SagePoint Brokers Involving GPB Sales
Vanlohuizen is not the only SagePoint Financial representative we are scrutinizing. For the past year, we have been looking into claims against broker-dealers that sold GPB private placements to their clients, and SagePoint Financial is one of these firms.
GPB Capital Holdings is now accused of operating a $1.8B Ponzi scam and is under investigation by the FBI, US Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
Unfortunately, many investors are grappling with what to do with the losses they’ve sustained from investing in one of several GPB funds. Private placement investors bought into the GPB Funds on the recommendations of brokers and firms. The latter earned over $160M in commission from these sales.
Already, our GPB private placement attorneys have filed several investor fraud claims against broker-dealers on our clients’ behalf.
GPB Investment Fraud Attorneys
Please contact SSEK Law Firm if you sustained investment losses while working with SagePoint Financial broker, Timothy Vanolhuizen or any other SagePoint Financial representative. If you purchased GPB private placements through SagePoint or another brokerage firm, our GPB investor fraud lawyers would like to talk to you.