Primevest Financial Services, Inc.

Primevest Financial Services is headquartered in St. Cloud, Minnesota and has more than 250 financial advisors. It was founded in 1984 as Bankers Systems Brokerage Services. Primevest is a self-clearing broker-dealer and is a member of the ING Advisors Network, a subsidiary of ING. ING has more than $500 billion in assets and is one of the largest integrated financial services organizations in the world. ING Group is a global financial institution of Dutch origin offering banking, insurance and asset management to more than 60 million private, corporate and institutional clients in more than 50 countries. ING offers a comprehensive array of financial services, including retirement plans, mutual funds, managed accounts, alternative investments, annuities, life insurance, and financial planning. The company serves more than 14 million customers across the nation.

Primevest Financial Services Ordered to Pay Customers $100,000

A FINRA arbitration panel ordered Primevest Financial to pay an investor $100,000 to compensate the investor for damages suffered as a result of Primevest’s improper conduct. The investor asserted the following causes of action: indemnification pursuant to an agreement
between the parties; breach of fiduciary duty; breach of contract; and negligence. These causes
of action resulted because Primevest failed to indemnify Mid-Wisconsin Bank, pursuant to an
agreement, after Mid-Wisconsin reimbursed its customer for an erroneous IRA account
transaction in Bay Lake Capital Trust I Cumulative Series preferred Stock committed by the
parties’ dual employee.

If you suffered investment losses, please contact us or communicate with a Dimond Kaplan & Rothstein, P.A. attorney at 888-578-6255 or jkaplan@dkrpa.com for a free case evaluation.