BRYAN JOSEPH FOERTSCH is currently employed as a Broker and/or Investment Adviser at CETERA ADVISORS LLC located at 5615 CHESBRO AVE, 2042 EL CAMINO REAL, SAN JOSE, CA, 95123.
BRYAN JOSEPH FOERTSCH has worked at CETERA ADVISORS LLC since November 01, 2013
Disclosure History
BRYAN JOSEPH FOERTSCH has 3 Disclosure Event(s).
Date: August 24, 2016 Category: Customer Dispute Allegations: The arbitration was filed by executrix of the estate of [customer]. The claim is alleging fraud, misrepresentation, unsuitable investment recommendation and financial elder abuse. Damage Amount Requested: $500,000.00 Broker Comment: This issue was dismissed in connection with a settlement where each side agreed to drop their issues against the other. FINRA guidelines denote this should be classified as a settlement instead of dismissal. At no point was any monies exchanged in connection with this agreement. The representative denies any allegations against him and during discussions proved them to be fallacious.
Date: April 07, 2016 Category: Customer Dispute Allegations: CLIENTS ARE ALLEGING THAT THE ADVISOR DID NOT DISCLOSE FEES ASSOCIATED WITH THE INVESTMENT. Damage Amount Requested: $25,000.00 Broker Comment: ACCORDING TO THE CLIENT, ADVISOR DID NOT DISCLOSE FEES ASSOCIATED WITH HIS INVESTMENT. RESULTS OF OUR INVESTIGATION INDICATE THAT ADVISOR SPENT TIME WITH THE CLIENT DETAILING THE TERMS OF THE ALLIANZ CONTRACT. ADVISOR'S WRITTEN DOCUMENTATION CONFIRMS HIS STATEMENT. CLIENT SIGNED THE ALLIANZ APPLICATION CONFIRMING THAT HE HAD READ THE PROSPECTUS WHICH DETAILS THE INVESTMENT, INCLUDING FEES AND SURRENDER CHARGES. IN ADDITION TO SIGNING THE ALLIANZ PAPERWORK, THE CLIENT ALSO SIGNED THE SPEARATE FOOTHILL SECURITIES VARIABLE ANNUITY DISCLOSURE FORM THAT SPECIFICALLY DETAILS CHARGES ASSOCIATED WITH THE INVESTMENT AND SURRENDER CHARGES. WE HAVE CONCLUDED THAT THE ADVISOR DID PROPERLY EXPLAIN THE TERMS OF THE ALLIANZ CONTRACT AND DID DISCLOSE THE FEES ASSOCIATED WITH THE CLIENT'S INVESTMENT. WE BELIEVE THAT THE CLIENT WAS FULLY INFORMED AND THEREFORE DENY HIS CLAIM THAT FEES BE REIMBURSED TO HIM AND THAT HIS ENTIRE CONTACT BE RETURNED TO HIM WITHOUT PENALTY.
Date: November 20, 2012 Category: Customer Dispute Allegations: FOOTHILL AND REPRESENTATIVE FOERTSCH RECEIVED A LETTER FROM AN ATTORNEY, REPRESENTING [EXECUTRIX], THE EXECUTRIX OF THE ESTATE OF [CUSTOMER] (THE DECEASED FORMER CUSTOMER OF REPRESENTATIVE FOERTSCH.)ALLEGATIONS INCLUDE BREACH OF FIDUCIARY DUTY AND UNSUITABILE INVESTMENTS. REPRESENTATIVE FOERTSCH DENIES THE ALLEGATIONS AND IS IN THE PROCESS OF RESPONDING TO THE LETTER. UPDATE 8/20/2013: FOOTHILL AND ITS REPRESENTATIVE FOERTSCH RECEIVED LETTERS IN NOVEMBER 2012 AND MARCH 2013 FROM AN ATTORNEY FOR THE EXECUTRIX OF THE ESTATE OF A DECEASED CUSTOMER, [CUSTOMER]. THE LETTER CLAIMED UNSUITABLE RECOMMENDATIONS. FOERTSCH RESPONDED TO EACH LETTER, CORRECTING AND CONTESTING FACTUAL STATEMENTS MADE. THE FIRST LETTER DEMANDED $542,045.00 IN 30 DAYS OR AN ACTION WOULD BE FILED AND THE SECOND LETTER DEMANDED $100,000.00 IN 30 DAYS OR AN ACTION WOULD BE FILED. IT HAS BEEN 273 DAYS SINCE THE FIRST LETTER WAS SENT AND 170 DAYS SINCE THE LAST LETTER AND NO ACTION HAS BEEN FILED. ACCORDINGLY, TAKING THE LETTERS FROM COUNSEL AT THEIR FACE, THERE IS PRESENTLY NO INTENTION TO FILE A CLAIM. Damage Amount Requested: $542,045.00 Broker Comment: FOOTHILL AND ITS REPRESENTATIVE FOERTSCH RECEIVED LETTERS IN NOVEMBER 2012 AND MARCH 2013 FROM AN ATTORNEY FOR THE EXECUTRIX OF THE ESTATE OF A DECEASED CUSTOMER, [CUSTOMER]. THE LETTER CLAIMED UNSUITABLE RECOMMENDATIONS. FOERTSCH RESPONDED TO EACH LETTER, CORRECTING AND CONTESTING FACTUAL STATEMENTS MADE. THE FIRST LETTER DEMANDED $542,045.00 IN 30 DAYS OR AN ACTION WOULD BE FILED AND THE SECOND LETTER DEMANDED $100,000.00 IN 30 DAYS OR AN ACTION WOULD BE FILED. IT HAS BEEN 273 DAYS SINCE THE FIRST LETTER WAS SENT AND 170 DAYS SINCE THE LAST LETTER AND NO ACTION HAS BEEN FILED. ACCORDINGLY, TAKING THE LETTERS FROM COUNSEL AT THEIR FACE, THERE IS PRESENTLY NO INTENTION TO FILE A CLAIM. FOOTHILL CONSIDERS THIS COMPLAINT CLOSED WITH NO ACTION.
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