The White Law Group reviews the regulatory history of Packerland Brokerage Services.   

Packerland Brokerage Services, based in Green Bay, Wisconsin reportedly has two regulatory events on their broker profile, according to FINRA, the self-regulator that oversees brokers and brokerage firms. According to reports, the firm had revenue of $27.7 million in 2020.  The firm is dual registered as a brokerage firm and an investment advisory firm, CRD#: 37031/SEC#: 801-74927,8-47572. 

Packerland Brokerage Services- Broker Misconduct and Customer Complaints   

There have been several cases of registered representatives employed by Packerland Brokerage who were allegedly involved in broker misconduct and fraudulent activities.  

The Securities and Exchange Commission settled charges with advisor Conrad Coggeshall in 2021 alleging that Coggeshall fraudulently raised $700,000 from elderly investors.    

The SEC charged Coggeshall on March 20, 2020, alleging that, between April 2017 and May 2018, Coggeshall defrauded elderly investors out of $700,000 in a company he called BOTR, LLC also known as Business Owners Tax Relief.  

Coggeshall purportedly made multiple misrepresentations to investors, including that they were investing in BOTR, LLC, a successful mergers and acquisition firm based in New York, their investments were safe and insured, and they would receive periodic interest payments at a high, fixed rate.  

The SEC’s complaint indicated that Coggeshall purportedly deposited investors’ funds into brokerage and bank accounts in the name of an entity that he owned and allegedly used investor funds to trade securities, incurring significant losses, and to pay personal expenses and to make payments to investors.  FINRA barred Coggeshall in 2020. 

In March 2021, FINRA suspended and fined a Packerland Brokerage advisor in Palm City, Florida after he allegedly participated in a private securities transaction in the total amount of $29,500 without prior written disclosure to, and approval from Packerland. FINRA alleged that the advisor sold an investor $29,500 in Future Income Payments (FIP), an allegedly fraudulent structured cash flow investment. Future Income Payments and its owner were later charged with fraud after defaulting on nearly $300 million in investor payments. 

The Packerland rep reportedly received a total of $1,475 in commissions in connection with this FIP transaction. 

All broker-dealers have a responsibility to adequately supervise their employees. They must ensure the necessary procedures and systems to detect misconduct.  Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.   

When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.   

SEC Sanctions Packerland Brokerage Services   

In 2017, the SEC reportedly settled charges against Packerland Brokerage Services, Inc. and Atlas Capital Management Corp. In the Order, the Commission found that, Packerland made inadequate disclosures and failed to seek best execution for their clients, while acting as registered investment advisers, in violation of federal securities laws. The SEC reportedly ordered Packerland to pay $432,949.80 in disgorgement and an additional $103,937.00 in interest and penalties. 

The charges were in connection with disclosure and best execution failures related to the selection of a particular class of mutual fund shares by Packerland, and Atlas, a registered investment adviser located in Fort Wayne, Indiana, in their capacity as registered investment advisers. 

A brokerage firm’s best execution failure occurs when the firm fails to obtain the most favorable execution price for its client’s order. Best execution refers to a broker’s obligation to execute a client’s order at the best available price and with reasonable promptness. 

While soliciting individual advisory clients to invest in mutual fund strategies managed by Atlas, Packerland purportedly recommended the purchase of a certain class of mutual fund shares that imposed a 1% annual service fee, while failing to disclose that a lower-cost but otherwise identical share class was available.  

The firm also reportedly failed to disclose to its advisory clients that it had a financial conflict of interest because, in its capacity as a broker-dealer, Packerland received the annual service fee imposed on the higher-cost mutual fund shares.  

Packerland allegedly misrepresented that they would disclose to clients all of its fees and any compensation it received for the sale of securities. The firm also purportedly failed to implement policies or procedures reasonably designed to address the financial conflict of interest arising from its receipt of the annual service fee or the selection of mutual fund share classes. 

Investigating Potential Claims    

Brokers and financial advisors may commit investment or securities fraud in an effort to control the market, gain business, or maximize commissions.     

All broker-dealers have a responsibility to adequately supervise its employees. They must ensure the necessary procedures and systems to detect misconduct.  Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.    

When brokers violate securities laws, such as making unsuitable investments, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.     

Hiring a Securities Attorney    

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.       

Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others.        

With over 40 years of securities law experience, including experience working at FINRA and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions attempt to recover their investment losses.        

Although our offices are in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country.     

The foregoing information, which is all publicly available, is being provided by The White Law Group. The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois.   

If you have concerns regarding investments you purchased through Packerland Brokerage Services and would like to speak with a securities attorney, please call The White Law Group at 888-637-5510.   

For more information on The White Law Group, visit whitesecuritieslaw.com.