Soreide Law Group is evaluating possible investor claims against Geneos Wealth Management securities broker Michael Osland (CRD#: 1791642, Scottsdale, Arizona). Namely, the Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report for Osland shows that three clients filed disputes against him. Read on to learn more about what clients allege in these investor disputes:
Geneos Client Indicates Michael Osland Inappropriately Allocated Account In Mutual Funds
Evidently, a client of Geneos Wealth Management Inc. brought a formal dispute about Michael Osland on December 20, 2018. Apparently, the client alleged that Osland established a bad investment allocation for the client’s account. Apparently, the client experienced investment losses in 2018 when the market experienced volatility. For this reason, the client alleged $18,821.03 in damages. However, Osland indicated that this matter is closed because of the client not taking further action.
Osland Allegedly Makes Unsuitable Recommendations
Apparently, a second Geneos Wealth Management client took issue with Michael Osland’s sales practices through filing FINRA Arbitration #: 17-03196 on December 6, 2017. Namely, the client suggested that Osland made unsuitable recommendations. It appears that Osland recommended a variety of investments from 2006 to 2017 including annuities, mutual funds, oil and gas investments and real estate securities. By acting on Osland’s advice, the client apparently sustained losses. For this reason, on April 30, 2019, Geneos Wealth Management paid the client $125,000 to resolve the matter.
Geneos Wealth Management Client Indicates Michael Osland Gave Bad Advice About Oil And Gas Investments
Apparently, a third client of Geneos Wealth Management brought FINRA Arbitration #: 16-02481 to contest Michael Osland’s sales of oil and gas investments. Allegedly, Osland failed to have a reasonable basis to believe that his recommendations were suitable for the client. It appears that Osland’s bad investment advice caused the client to experience losses. For this reason, Geneos Wealth Management compensated the client to the tune of $140,000. Evidently, Osland contributed $25,000 to the September 29, 2017 settlement.
Experienced losses due to Geneos Wealth Management broker Michael Osland? If so, contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has recovered millions of dollars for clients who have suffered losses due to misconduct of brokers and brokerage firms.