Berthel Fisher Financial Financial Advisor, Genevieve Mar, Has Three Customer Complaints, Including One Pending Complaint Alleging Unsuitable Investment Recommendations
Genevieve Mar is a Financial Advisor at Berthel Fisher & Co. in Northbrook, Illinois. Genevieve Mar has been in the securities industry since 1996 and previously worked at Brewer Financial Services.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in July 2018, a customer filed a complaint against Genevieve Mar, alleging “that the investments purchased between 2014-2016 were unsuitable, are not preforming as expected, and that the high risk level associated with the investments was not explained to them at the time of purchase. They also allege the firm failed to supervise the actions of the representative.” The complaint alleges damages of $250,000 and remains pending.
In addition to the pending complaint, Genevieve Mar has also been the subject of two additional complaints.
- September 2013—“THE CLIENT ALLEGES THE 2007 AND 2008 TIC PURCHASES WERE UNSUITABLE AND MISREPRESENTED BY THE REPRESENTATIVE. THE CLIENT ALSO ALLEGES THE FIRM FAILED TO CONDUCT ADEQUATE DUE DILIGENCE.” The matter went to arbitration and the customer was awarded $222,000.
- June 2011—”CLIENTS ALLEGE MISREPRESENTATIONS AND OMISSIONS, NEGLIGENCE, AND FRAUD BY THE REPRESENTATIVE.” The matter went to arbitration and the customer was awarded $125,000.
For a copy of Genevieve Mar’s CRD, click https://brokercheck.finra.org/individual/summary/2744037#disclosuresSection.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
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