Jeffrey Poosch The Focus Of Prospera Financial Investor Complaint About Unsuitable Advice

Investors have reportedly disputed the sales practices of securities broker Jeffrey Donald Poosch (also known as Jeff Poosch) [CRD: 2490703, Port Huron, Michigan], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. It appears that Poosch worked for Prospera Financial Services Inc. from April 19, 2021, to the present, for Cetera Advisor Networks LLC from September 20, 2019, to April 20, 2021, and for Summit Brokerage Services Inc. from December 19, 2007, to September 20, 2019. Read below for details about Poosch’s disclosures.

Prospera Client Dispute About Jeff Poosch Involved Unsuitable Recommendations Allegations Relating To Variable Annuity

Particularly, a Prospera Financial Services Inc. client filed a written complaint about Jeffrey Poosch. The client alleged that Poosch made unsuitable recommendations connected to an annuity exchange, leading the client to incur a surrender charge. For this reason, the client allegedly experienced damages connected to variable annuities. As a result, on August 5, 2024, Prospera Financial Services Inc. settled this matter by paying the client $26,000 in damages.

Summit Brokerage Services Inc. Investor Accused Jeffrey Poosch Of Breach Of Fiduciary Duty

Also, a client of Summit Brokerage Services Inc. contested Jeffrey Poosch’s sales practices by filing FINRA Arbitration No. 22-01386. Allegedly, Poosch breached his fiduciary duty, made unsuitable recommendations, made misrepresentations, and made omissions relating to Walton Land Fund 3, a real estate security. It appears that Poosch allegedly caused the client to sustain damages. Therefore, Summit Brokerage Services Inc. opted to settle the matter on May 4, 2023, by compensating the client in the amount of $95,000.

Summit Brokerage Services Investor Accused Jeff Poosch Of Unauthorized Trading And Failure To Disclose Fees

Specifically, on February 24, 2018, a Summit Brokerage Services client filed a complaint about Jeffrey Poosch. Primarily, the client alleged that Poosch engaged in unauthorized trading and failed to disclose fees associated with a variable annuity. Because of this, the client allegedly incurred damages relating to direct investments, variable annuities, and mutual funds. Consequently, the client requested $500,000 in compensation from Summit Brokerage Services or Poosch. The complaint was denied on July 31, 2018. However, the firm denied this complaint.

Did You Invest With Financial Advisor / Securities Broker Jeffrey Poosch?

Are you concerned regarding investments you made with Jeffrey Poosch? Contact Soreide Law Group online or at (888) 760-6552 and talk with a securities lawyer about a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the US. Also, the firm takes cases on a contingency fee basis and advances all costs. Poosch and brokerage firms Poosch worked for deny accusations of sales practice violations.