Unsuitable Investment Recommendations By Geneos Wealth Management, Inc. Broker Richard Braverman
Posted on Monday, August 2nd, 2021 at 6:29 pm
Erez Law is currently investigating Geneos Wealth Management, Inc. broker Richard Braverman (CRD# 1023227) regarding unsuitable investment recommendations. Braverman has been registered with Geneos Wealth Management, Inc. in Lancaster, Pennsylvania since 2008.
Braverman has been the subject of two customer complaints between 2020 and 2021, according to his CRD report:
February 2021. “Client alleges unsuitable investment recommendations between 2015-2017 and other causes of action.” The customer is seeking $1 million in damages and the case is currently pending. The complaint was regarding direct investments and LP interests.
June 2020. “Clients allege breach of fiduciary duty, unsuitable recommendations and other causes of action in 2013 and 2015.” The case was settled for $90,000. The complaint was regarding direct investments and LP interests.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Geneos Wealth Management, Inc. may be liable for investment or other losses suffered by Braverman’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.