Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against:

GENEOS WEALTH MANAGEMENT, INC. (Respondent)

The Claimant brings this action to recover investment losses due to the alleged recommendations of GENEOS WEALTH MANAGEMENT, and its Financial Advisor, Michael Osland. Osland is not named in this lawsuit.

The lawsuit alleges that the Respondent understood that the Claimant was planning to retire in a few years and did not want to take any unnecessary risks with his investments. Allegedly, GENEOS WEALTH MANAGEMENT, and the Financial Advisor, Michael Osland, recommended the Claimant invest $50,000 in the LJM Capital Preservation Fund (LJM Fund). According to the lawsuit, Michael Osland, allegedly represented that the LJM Fund had a secure strategy that would protect the Claimant from market downturns.  Unfortunately the LJM Fund’s strategy was not secure. In early 2018, the LJM Fund suffered losses of approximately 80%. As a result, the Claimant lost $40,000 in this alternative investment mutual fund.

The lawsuit against GENEOS WEALTH MANAGEMENT, INC. alleges: breach of fiduciary duty, breach of contract, negligence, violations of FINRA rules, and negligent supervision.  The Claimant is seeking damages of not less than $40,000.

According to FINRA’s BrokerCheck, MICHAEL JOHN OSLAND (CRD#: 1791642), has been in the securities industry for 33 years and has 3 Disclosures on his FINRA CRD report.  Two of the Disclosures are “Customer Disputes.” A dispute was filed in December of 2017 alleging, “Customers allege unsuitable investment recommendations from 2008 to 2017 and other causes of action.” The settlement amount was, $125,000.00.  In July of 2020, there was another dispute filed alleging, “Claimant alleges unsuitable investments, breach of contract and other causes of action.” The settlement amount was, $40,000.00. Osland denies all allegations.

Michael Osland has been listed with 10 firms and is currently registered with the following firm since 12/1/2008:

GENEOS WEALTH MANAGEMENT, INC.

8115 E INDIAN BEND RD SUITE #117

SCOTTSDALE, AZ 85250

Please note that no answer has yet to be filed, and it is anticipated that the Respondent, GENEOS WEALTH MANAGEMENT, INC., will deny any wrongdoing.

If you’ve suffered losses due to the actions or recommendations of GENEOS WEALTH MANAGEMENT, INC. and/or their financial advisor, Michael J. Osland, contact Soreide Law Group and speak to an experienced securities lawyer at no cost regarding the possible recovery of your investment losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group works on a contingency fee basis and represent our clients nationwide before FINRA.