Mark Fenlon: CliftonLarsonAllen Advisor Lands Fraud Complaint

A recent civil complaint against Minneapolis financial advisor Mark Fenlon (CRD# 1466512) alleges fraud and misrepresentation relating to a direct investment. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with CliftonLarsonAllen Wealth Advisors.

Mr. Fenlon’s BrokerCheck report discloses an April 2023 lawsuit against him. The claim alleges that CliftonLarsonAllen, the firm where he is a principal, “failed to disclose or misrepresented material information” relating to an investment’s “size and potential, sales volume, value and performance of a machine used in the sterilization of medical equipment.” It alleges that the company as well as its directors committed fraud, misrepresentation, negligence, and breach of fiduciary. The pending complaint seeks unspecified monetary damages.

A statement included with the lawsuit’s disclosure argues that Mr. Fenlon “had no involvement in the sale, distribution, representation or execution of the company’s business and denies any alleged personal wrongdoing.” It adds that the firm “is currently defending this lawsuit and intends to seek dismissal in the coming months.”

According to the Financial Industry Regulatory Authority, Mark Fenlon holds 29 years of securities industry experience. Based in Minneapolis, Minnesota, he has been a broker and an investment advisor with CliftonLarsonAllen Wealth Advisors since 2019. His registration history includes Schenk Investment Solutions, Clearly Gull Advisors, BMO Asset Management, M&I Investment Management, Morgan Dempsey Capital Management, Associated Brokerage, Elan Investment Services, and Q&R Clearing Corporation. His credentials include the passage of eight securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Non-Member General Securities Examination, or Series 2; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Securities Agent State Law Examination, or Series 63. He is licensed in Colorado, Florida, Minnesota, North Dakota, Texas, and Wisconsin. (Information current as of June 18, 2023.)

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