- August 17, 2023
- Lifemark Securities Corp
Geoffrey Wolterstorff (CRD#: 2711805) is a registered Broker at Lifemark Securities, Inc., in Eau Claire, WI.
He entered the securities industry in 1996 and previously worked for Foresters Equity Service, Inc.; Packerland Brokerage Services, Inc.; Country Capital Management Company; Thrivent Investment Management, Inc.; Ameriprise Financial Services, Inc., and IDS Life Insurance Company.
Current And Past Allegations Of Conduct
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in May 2023, the U.S. Securities & Exchange Commission opened an investigation into the work of Geoffrey Wolterstorff. The description of the investigation states, “Wells Notice issued alleging violations of certain provisions of the federal securities laws, including Rules 15l-1(a)(1) and 15l-1(a)(2) of the Securities Exchange Act of 1934 (“Exchange Act”).”
In addition, Geoffrey Wolterstorff has been the subject of three other disclosures, including the following:
- January 2026 — “Rep offered a quote for worker’s compensation insurance coverage to potential client, in which he misrepresented that their current policy compensation dividends were guaranteed whereas dividends with the employer’s current worker’s compensation carrier were not guaranteed.” The Wisconsin Office of the Commissioner of Insurance sanctioned Geoffrey Wolterstorff with a civil/administrative penalty/fine of $500.
- September 2002 — “THE CLIENT ALLEGED THAT I INVESTED FUNDS IN UNSUITABLE FUNDS WHICH DID NOT SERVE THEIR SAFETY AND LIQUIDITY GOALS.” The customer dispute was denied.
- December 1991 — “12-20-91 THEFT-PAID FINE OF $130-RESTITUTION OF .59.” The criminal charges were resolved via “1-8-92 PAID TIME OF $130 AND RESTITUTION OF .59.”
For a copy of Geoffrey Wolterstorff’s FINRA BrokerCheck, click here.
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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.
Reasonable basis suitability requires that a recommended investment or investment strategy be suitable or appropriate for at least some investors. Reasonable basis suitability requires an advisor to conduct adequate due diligence so that he or she can determine the risks and rewards of the investment or investment strategy.
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Customer-specific suitability requires that a member or associated person have a reasonable basis to believe that the recommendation is suitable for a particular customer based on that customer’s investment profile. Among the criteria that a financial advisor must evaluate to satisfy his or her customer-specific suitability obligations include the investor’s age, tax status, time horizon, liquidity needs, and risk tolerance; a client’s other investments, financial situation and needs, investment objectives, and any other information disclosed by the customer should also be considered.
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