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Jon Lindberg: Investor Seeks $75,000 in RIA Complaint

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Jon LindbergPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on September 26, 2018 indicate that former Alabama-based ProEquities broker Jon Lindberg, who is currently registered as an investment adviser with First Advisors Capital, has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Lindberg (CRD# 1085475).

Jon Lindberg has spent 34 years in the securities industry and has been registered as an investment adviser with First Advisors Capital in Birmingham, Alabama since 2009. Previous registrations include ProEquities in Birmingham, Alabama (1989-2018); Investment Advisors in Birmingham, Alabama (2000-2009); TransAmerica Securities Sales Corporation in Los Angeles, California (1987-1989); TransAmerica Financial Resources in Los Angeles, California (1986-1989); Cardell & Associates (1985-1986); and Amfire (1983-1984). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on November 4, 1999; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on March 9, 1995; Series 7 (General Securities Representative Examination), which he obtained on December 14, 1999; and Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on September 9, 1983. He is currently not registered as a broker with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint.

In May 2018 a customer filed a complaint against Jon Lindberg, while he was employed at ProEquities, alleging that “mishandling and aggressive action on the part of an employee” almost emptied his account. The customer is seeking $75,000 in damages in the pending complaint.

In May 2018 a customer filed a complaint against Jon Lindberg, while he was employed at ProEquities, alleging “losses due to incompetent employee.” The complaint settled in July 2018 for $64,000. His “Broker Comment” on the disclosure reads: “This was an isolated client complaint where an employee non-Principal of the Firm attempted to gain back prior losses to the client’s account, in which aggressive trading was pursued that was found to be outside of the client’s agreed upon trading methodology prior to August 2017. The employee was immediately terminated. The Firm was proactive in providing an equitable solution for the client, which was provided by the Firm’s Insurance carrier. This client remains a client of the Firm.”

If you have lost money investing with Jon Lindberg, you may be able to recover your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: Fitapelli Kurta only gets paid if and when you collect funds. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.