john richard carlson - finrajohn r. carlson crd# 3098410 this broker is not currently registered....

BrokerCheck Report

JOHN RICHARD CARLSON

Section Title

Report Summary

Broker Qualifications

Registration and Employment History

Disclosure Events

CRD# 3098410

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5 - 6

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Page(s)

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About BrokerCheck®

BrokerCheck offers information on all current, and many former, registered securities brokers, and all current and formerregistered securities firms. FINRA strongly encourages investors to use BrokerCheck to check the background ofsecurities brokers and brokerage firms before deciding to conduct, or continue to conduct, business with them.

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CRD® and is a combination of: o information FINRA and/or the Securities and Exchange Commission (SEC) require brokers and

brokerage firms to submit as part of the registration and licensing process, and o information that regulators report regarding disciplinary actions or allegations against firms or brokers.

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JOHN R. CARLSON

CRD# 3098410

This broker is not currently registered.

Report Summary for this Broker

This report summary provides an overview of the broker's professional background and conduct. Additionalinformation can be found in the detailed report.

Disclosure Events

All individuals registered to sell securities or provideinvestment advice are required to disclose customercomplaints and arbitrations, regulatory actions,employment terminations, bankruptcy filings, andcriminal or civil judicial proceedings.

Are there events disclosed about this broker? Yes

The following types of disclosures have beenreported:

Type Count

Customer Dispute 20

Financial 1

Investment Adviser RepresentativeInformation

https://www.adviserinfo.sec.gov

The information below represents the individual'srecord as a broker. For details on this individual'srecord as an investment adviser representative,visit the SEC's Investment Adviser PublicDisclosure website at



This broker has passed:

4 Principal/Supervisory Exams

3 General Industry/Product Exams

1 State Securities Law Exam

Registration History

This broker was previously registered with thefollowing securities firm(s):

CAPITAL FINANCIAL SERVICES, INC.CRD# 8408Minot, ND07/2002 - 06/2017

B

INTEGRITY FUNDS DISTRIBUTOR, INC.CRD# 26293MINOT, ND06/2003 - 08/2009

B

ND CAPITAL, INC.CRD# 23311MINOT, ND10/2002 - 10/2004

B

www.finra.org/brokercheck User Guidance

1�2020 FINRA. All rights reserved. Report about JOHN R. CARLSON.


https://adviserinfo.sec.gov/individual/summary/3098410

http://www.finra.org/brokercheck

http://www.finra.org/brokercheck_reports



Registrations

This section provides the self-regulatory organizations (SROs) and U.S. states/territories the broker is currently registered and licensed with, thecategory of each license, and the date on which it became effective. This section also provides, for every brokerage firm with which the broker iscurrently employed, the address of each branch where the broker works.








Industry Exams this Broker has Passed

This individual has passed 4 principal/supervisory exams, 3 general industry/product exams, and 1 state securities law exam.

This section includes all securities industry exams that the broker has passed. Under limited circumstances, a broker may attain a registrationafter receiving an exam waiver based on exams the broker has passed and/or qualifying work experience. Any exam waivers that the broker hasreceived are not included below.

Exam Category Date

Principal/Supervisory Exams

Financial and Operations Principal Examination 06/20/2003Series 27B

Registered Options Principal Examination 01/30/2003Series 4B

Municipal Securities Principal Examination 10/28/2002Series 53B

General Securities Principal Examination 08/22/2002Series 24B

Exam Category Date

General Industry/Product Exams

Securities Industry Essentials Examination 06/22/2017SIEB

Limited Representative-Equity Trader Exam 12/30/2003Series 55B

General Securities Representative Examination 09/14/1998Series 7B

Exam Category Date

State Securities Law Exams

Uniform Combined State Law Examination 09/11/1998Series 66B IA

Additional information about the above exams or other exams FINRA administers to brokers and other securities professionals can be found atwww.finra.org/brokerqualifications/registeredrep/.





www.finra.org/brokerqualifications/registeredrep/



Professional Designations

This section details that the representative has reported 0 professional designation(s).

No information reported.







Registration History

Registration Dates Firm Name CRD# Branch Location

The broker previously was registered with the following firms:

B 07/2002 - 06/2017 CAPITAL FINANCIAL SERVICES, INC. 8408 Minot, ND

B 06/2003 - 08/2009 INTEGRITY FUNDS DISTRIBUTOR, INC. 26293 MINOT, ND

B 10/2002 - 10/2004 ND CAPITAL, INC. 23311 MINOT, ND

B 10/2002 - 11/2003 ARM SECURITIES CORPORATION 932 MINOT, ND

B 09/1998 - 06/2002 WADDELL & REED, INC. 866 OVERLAND PARK, KS

Employment History

Employment Employer Name Investment RelatedPosition Employer Location

This section provides up to 10 years of an individual broker's employment history as reported by the individual broker on the most recently filedForm U4.

Please note that the broker is required to provide this information only while registered with FINRA or a national securities exchangeand the information is not updated via Form U4 after the broker ceases to be registered. Therefore, an employment end date of"Present" may not reflect the broker's current employment status.

07/2002 - 06/2017 CAPITAL FINANCIAL SERVICES, INC. INVESTMENTREPRESENTATIVE/CCO/DES.SUPERVISOR/SENIOR REG. OPTIONSPRINCIPAL/COMP.REG. OPTIONSPRINCIPAL/ FINOP, &DIRECTOR

Y MINOT, ND, United States

10/2010 - 05/2017 CAPITAL FINANCIAL HOLDINGS, INC. CEO N MINOT, ND, United States

09/2010 - 01/2017 VOYAGER CAPITAL MANAGEMENT, LLC INVESTMENTADVISORREPRESENTATIVE

Y LAKE GENEVA, WI, UnitedStates







Other Business Activities

This section includes information, if any, as provided by the broker regarding other business activities the broker is currently engaged in either asa proprietor, partner, officer, director, employee, trustee, agent or otherwise. This section does not include non-investment related activity that isexclusively charitable, civic, religious or fraternal and is recognized as tax exempt.

1) FIXED INSURANCE SALES, NON-INVESTMENT RELATED, 2 HRS PER MONTH, DURING SECURITIES TRADING HOURS, 815 25th AVENW, MINOT ND 58703, AGENT, 9/15/2012. Consulting and portfolio management for Wealth Plus of the Dakotas, Inc., investment related, 10 hrsper month, during securities trading hours, 815 25th Ave NW, Minot, ND 58703, consultant, started 3/20/2019.






Disclosure Events

What you should know about reported disclosure events:

1. All individuals registered to sell securities or provide investment advice are required to disclose customer complaints and arbitrations,regulatory actions, employment terminations, bankruptcy filings, and criminal or civil judicial proceedings.

2. Certain thresholds must be met before an event is reported to CRD, for example: o A law enforcement agency must file formal charges before a broker is required to disclose a particular criminal event. o A customer dispute must involve allegations that a broker engaged in activity that violates certain rules or conduct governing the

industry and that the activity resulted in damages of at least $5,000. o

3. Disclosure events in BrokerCheck reports come from different sources: o As mentioned at the beginning of this report, information contained in BrokerCheck comes from brokers, brokerage firms and

regulators. When more than one of these sources reports information for the same disclosure event, all versions of the event willappear in the BrokerCheck report. The different versions will be separated by a solid line with the reporting source labeled.

o4. There are different statuses and dispositions for disclosure events:

o A disclosure event may have a status of pending, on appeal, or final.§ A "pending" event involves allegations that have not been proven or formally adjudicated.§ An event that is "on appeal" involves allegations that have been adjudicated but are currently being appealed.§ A "final" event has been concluded and its resolution is not subject to change.

o A final event generally has a disposition of adjudicated, settled or otherwise resolved.§ An "adjudicated" matter includes a disposition by (1) a court of law in a criminal or civil matter, or (2) an administrative

panel in an action brought by a regulator that is contested by the party charged with some alleged wrongdoing.§ A "settled" matter generally involves an agreement by the parties to resolve the matter. Please note that brokers and

brokerage firms may choose to settle customer disputes or regulatory matters for business or other reasons.§ A "resolved" matter usually involves no payment to the customer and no finding of wrongdoing on the part of the

individual broker. Such matters generally involve customer disputes.

For your convenience, below is a matrix of the number and status of disclosure events involving this broker. Further informationregarding these events can be found in the subsequent pages of this report. You also may wish to contact the broker to obtain furtherinformation regarding these events.

Final On AppealPending

Customer Dispute 4 16 N/A

Financial 0 1 N/A






Disclosure Event Details

When evaluating this information, please keep in mind that a discloure event may be pending or involve allegations that are contested and havenot been resolved or proven. The matter may, in the end, be withdrawn, dismissed, resolved in favor of the broker, or concluded through anegotiated settlement for certain business reasons (e.g., to maintain customer relationships or to limit the litigation costs associated with disputingthe allegations) with no admission or finding of wrongdoing.

This report provides the information exactly as it was reported to CRD and therefore some of the specific data fields contained in the report maybe blank if the information was not provided to CRD.

Customer Dispute - Settled

This type of disclosure event involves a consumer-initiated, investment-related complaint, arbitration proceeding or civil suit containing allegationsof sale practice violations against the broker that resulted in a monetary settlement to the customer.

Disclosure 1 of 16

Reporting Source: Broker

Employing firm whenactivities occurred which ledto the complaint:

Allegations:

CFS

Lawsuit against entities and individuals involved with DBSI investments.

Product Type: Real Estate Security

Alleged Damages: $2,160,495.18

Date Complaint Received: 11/09/2015

Complaint Pending? No

Status:

Customer Complaint Information

Is this an oral complaint? No

Is this a written complaint? Yes

Is this an arbitration/CFTCreparation or civil litigation?

Yes

Arbitration/Reparation forumor court name and location:

FINRA Dispute Resolution Arbitration

Docket/Case #: 15-02775

Filing date ofarbitration/CFTC reparationor civil litigation:

10/16/2015






Status:

Status Date: 10/16/2015

Settlement Amount:

Individual ContributionAmount:

Date Notice/Process Served: 11/09/2015

Arbitration Pending? No

Disposition: Settled

Disposition Date: 12/23/2016

Monetary CompensationAmount:

$200,000.00

Broker Statement This needed to be corrected as this individual is a named respondent.

Arbitration Information


$0.00

Evolved into Arbitration/CFTC reparation (the individual is a named party)

Arbitration/CFTC reparationclaim filed with (FINRA, AAA,CFTC, etc.):

FINRA Dispute Resolution Arbitration


Disclosure 2 of 16

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Allegations:

CAPITAL FINANCIAL SERVICES

NEGLIGENCE, BREACH OF CONTRACT, FAILURE TO SUPERVISE & FRUAD

Product Type: Direct Investment-DPP & LP InterestsOil & Gas

Alleged Damages: $430,000.00











Status:


Settlement Amount: $9,460.00


$0.00


Settled


No

Disclosure 3 of 16

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Allegations:


CUSTOMER ALLEGES MISREPRESENTATION








$4,463.17



$0.00


FINRA DISPUTE RESOLUTION








$0.00

Disclosure 4 of 16

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Allegations:


IMPROPER RECOMMENDATIONS, NEGLIGENCE & BREACH OF CONTRACT





Status:




$0.00


Settled




No

Disclosure 5 of 16

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Allegations:


CLIENT ALLEGES UNSUITABLE INVESTMENTS AND MISREPRESENTATION

Product Type: Direct Investment-DPP & LP Interests












$2,200.00



$0.00




Disclosure 6 of 16

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Allegations:

CAPTIAL FINANCIAL SERVICES

UNSUITABLE INVESTMENT RECOMMENDATIONS








$27,060.00




Docket/Case #: 10







$27,060.00

Broker Statement IN REFERENCE TO QUESTION #12B: I DON'T HAVE THE CASE NUMBERREGARDING THIS CASE THERE FOR I CAN NOT PROVIDE THE CORRECTANSWER. THANKS!


$0.00

Disclosure 7 of 16

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Allegations:


UNSUITABLE INVESTMENT RECOMMENDATIONS & MISREPRESENTATION








$9,240.00



$0.00




Disclosure 8 of 16

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Allegations:

CAPTIAL FINANCIAL SERVICES

UNSUITABLE RECOMMENDATIONS





Status:




$0.00









Yes





09/08/2010













$16,148.00


$0.00

Disclosure 9 of 16

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Allegations:


CUSTOMER ALLEGES MISREPRESENTATION AND UNSUITABLERECOMMENDATIONS.








$8,800.00



$0.00




Disclosure 10 of 16

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Allegations:


CUSTOMER ALLEGES UNTRUE STATEMENTS OR OMISSIONS.








$86,212.67



$0.00




Disclosure 11 of 16

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Allegations:


CUSTOMER ALLEGES BREACH OF FIDUCIARY DUTY.


















$13,200.00


$0.00

Disclosure 12 of 16

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Allegations:


CUSTOMER ALLEGES MISREPRESENTATION.








$86,212.67



$0.00




Disclosure 13 of 16

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Allegations:


FAILURE TO SUPERVISE.








$75,000.00



$0.00




Disclosure 14 of 16

i



Allegations:


CUSTOMERS ALLEGE MISREPRESENTATION.













Disposition: Dismissed



$10,120.00

Broker Statement UPDATE ON AMOUNT FOR #16


$0.00




Disclosure 15 of 16

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Allegations:

CAPITAL FINANCIAL SERVICES, INC.

CLIENTS ALLEGE UNSUITABLE INVESTMENTS

Product Type: Direct Investment-DPP & LP InterestsReal Estate Security





Yes





11/01/2009








Status:




$0.00






$64,240.00




$0.00





Disclosure 16 of 16

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Allegations:

CAPITAL FINANCIAL SERVICES, INC.

CLIENT ALLEGES UNSUITABLE INVESTMENTS




Yes20�2020 FINRA. All rights reserved. Report about JOHN R. CARLSON.







Status:




$0.00






$20,000.00




$0.00




Yes





11/12/2009









Customer Dispute - Pending

This type of disclosure event involves (1) a pending consumer-initiated, investment-related arbitration or civil suit that contains allegations of salespractice violations against the broker; or (2) a pending, consumer-initiated, investment-related written complaint containing allegations that thebroker engaged in, sales practice violations resulting in compensatory damages of at least $5,000, forgery, theft, or misappropriation, orconversion of funds or securities.

Disclosure 1 of 4

Reporting Source: Firm


Allegations:

Capital Financial Services, Inc

CLIENTS ALLEGE BREACH OF FIDUCIARY DUTY, MISREPRESENTATION,VIOLATION OF INDIANA STATE SECURITIES LAWS.

Product Type: Annuity-FixedOil & GasReal Estate Security



Arbitration Pending? Yes


Alleged Damages AmountExplanation (if amount notexact):

THE FIRM HAS MADE A GOOD FAITH DETERMINATION THAT THE DAMAGEAMOUNT IS NOT LESS THAN $5,000.


FINRA Dispute Resolution


iReporting Source: Broker


Allegations:

Capital Financial Services, Inc.

Claimants allege breach of fiduciary duty, negligence, and vicarious liability.

Product Type: Annuity-FixedEquipment LeasingInsuranceOil & GasReal Estate Security






Annuity-FixedEquipment LeasingInsuranceOil & GasReal Estate Security






FINRA


Disclosure 2 of 4

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Allegations:


Clients allege breach of fiduciary duty, violation of federal securities laws, violationof state securities laws.







The firm has made a good faith estimate that the damage amount is not less than$5,000.


Finra Dispute Resolution









Allegations:


Claimants allege fraud, breach of fiduciary duty, breach of contract, and negligence

Product Type: Oil & Gas






FINRA


Disclosure 3 of 4

i



Allegations:


Clients allege violations of federal security laws, breach of fiduciary duty, breach ofcontract.

Product Type: Mutual FundOil & Gas




The firm has made a good faith determination that the damage amount is morethan $5,000.















Allegations:


Claimants allege Violations of Federal Securities Laws,Violation of MinnesotaPrevention of Consumer Fraud Act, Violation of MN Act Preventing Deceptive ActsAgainst Senior Citizens, Common Law Fraud, Breach of Fiduciary Duty,Negligence/Negligent Hiring/Negligent Supervision, and Breach of Contract forinvestments that were purchased in 2012.

Product Type: Oil & Gas






FINRA


Disclosure 4 of 4

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Allegations:


Client alleges violations of Federal Securities Laws,violations of MinnesotaSecurities Act. violation of FINRA rules.

Real Estate Security25�2020 FINRA. All rights reserved. Report about JOHN R. CARLSON.





Product Type: Real Estate Security






FINRA Dispute Resolution




Allegations:


Allege that investments purchased from March 2014 to September 2014 are illiquidand may have losses.

Product Type: Direct Investment-DPP & LP InterestsOil & GasReal Estate Security




Broker Statement Defendant is simply named along with all current and former officers of thecompany, having no prior contact with the complainants.



FINRA







Financial - Final

This type of disclosure event involves a bankruptcy, compromise with one or more creditors, or Securities Investor Protection Corporationliquidation involving the broker or an organization/brokerage firm the broker controlled that occurred within the last 10 years.

Disclosure 1 of 1

Reporting Source: Regulator

Action Type: Bankruptcy

Action Date: 10/07/2010

Organization Investment-Related?

Action Pending? No

Disposition: Discharged


Proceedings in FINRA Arbitration Case #09-06002, 09-06397, 10-00354, 10-00560, 10-01225, 10-01260, and 10-01498 against John R. Carlson were stayedby Bankruptcy proceedings in the United States Bankruptcy Court, North Dakota -Fargo, Case #10-31258.

Regulator Statement

Bankruptcy: Chapter 7

Type of Court: Federal Court

Name of Court: United States Bankruptcy Court

Location of Court: North Dakota - Fargo



Action Type: Bankruptcy

Action Date: 10/07/2010

Organization Investment-Related?

Bankruptcy: Chapter 7

Type of Court: Federal Court

Name of Court: FEDERAL BANKRUPTCY COURT

DISTRICT OF NORTH DAKOTA, FARGO, ND27�2020 FINRA. All rights reserved. Report about JOHN R. CARLSON.





Action Pending? No

Disposition: Discharged


NO DEBTS ARE DISCHARGED IN THIS ACTIONBroker Statement

Location of Court: DISTRICT OF NORTH DAKOTA, FARGO, ND







End of Report

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john richard carlson - finrajohn r. carlson crd# 3098410 this broker is not currently registered....

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