Centaurus Broker Marc Korsch Possibly Sold Bad Investments
The Financial Industry Regulatory Authority (“FINRA”) reports troubling information in regard to securities broker Marc F. Korsch (CRD#: 5525226, Sarasota, Florida). Namely, this securities broker, who worked for Trustmont Financial Group Inc. (2011 to 2014) and Centaurus Financial Inc. (2014 to 2021), is involved in investor disputes where his clients indicate that he may have engaged in sales practice violations. Here’s particularly what those disputes allege about the securities broker.
Centaurus Financial Client Alleges Unsuitable Alternative Investments In Dispute About Marc Korsch
Evidently, a client of Centaurus Financial disputed Marc Korsch’s sales practices in a FINRA Arbitration Claim. In this October 2020 dispute, the client indicated that Korsch sold unsuitable investments. The investor particularly indicated that Korsch sold investments which were too risky. Supposedly, those investments consisted of DPPs, LPs or REITs. Not only that, but the client indicated that the securities broker breached his fiduciary duty concerning these alternative investments. For this reason, the client asked for $100,000 in compensation from Korsch. This matter is ongoing.
Korsch Supposedly Misrepresents Real Estate Securities To Centaurus Client
Apparently, a client of Centaurus Financial contested Marc Korsch in a June 2019 dispute. Notably, the client alleged that as a financial advisor, Korsch misrepresented important facts about real estate securities. Otherwise, the client claimed to be misled by the securities broker. It seems that the investor may have experienced $53,000 in losses or damages by investing in these products from 2014 to 2019. However, this matter closed without further client action.
Trustmont Financial Group Client Indicates That Marc Korsch Recommended Bad Investments
Evidently, a client of Trustmont Financial Group took aim at Marc Korsch through a February 2017 lawsuit. The client’s allegations concern annuities and a private real estate investment trust. In fact, a FINRA Arbitration Panel declared Trustmont liable for failure to supervise, unsuitability and misrepresentation in violation of Florida Securities and Investor Protection Act. For this reason, the Panel not only awarded the client $848,002 in compensatory damages, but also ordered Trustmont to pay $100,000 in punitive damages to the client. The Panel issued the Award in August 2018.
Did You Experience Losses Because Of Broker Marc Korsch?
Evidently, Marc Korsch denies accusations that he committed sales practice violations. Did you sustain losses by investing with him? If you have, feel free to call Soreide Law Group at (888) 760-6552. Speak with experienced counsel concerning a possible recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions for clients who have experienced losses because of their securities brokers and financial advisors.