Securities Lawyers Blog
The securities attorneys at Gana Weinstein LLP represent investors in their disputes with brokerage firms, such as Geneos Wealth Management, Inc.. Our firm can analyze your accounts and investments in order to determine if there was any broker misconduct in the handling of your accounts. Our analysis can reveal whether an investor has been a victim of misconduct such as unsuitable investments, unauthorized trading, excessive trading, or investment fraud.
Geneos Wealth Management is an independent broker-dealer and registered investment advisor that provides financial planning, consulting, asset management, referrals to third-party money managers, and brokerage services to individuals, high-net-worth clients, trusts, retirement plans, charities, and businesses. Founded in 2002 by George and Ross Diachok, the firm is headquartered in Centennial, Colorado and is wholly owned by GWM Holdings.
Geneos Wealth Management, Inc. – By the Numbers:
- CRD #: 120894
- Regulatory Events: 6
- Broker Employees: 260
Geneos Wealth Management, Inc. – Investment Advisors:
- SEC #: 62331
- Assets Under Management: $9,217,163,038
- ADV Form Employee: 200
Geneos Wealth Management, Inc. – In the News:
FINRA v. Geneos Wealth Management, Inc. (Case #2019061764701) – Between November 9, 2016, and February 6, 2018, Geneos failed to reasonably supervise representatives’ recommendations of an alternative mutual fund—the LJM Preservation & Growth Fund (LJM). Geneos permitted the sale of LJM on its platform without having procedures reasonably designed to ensure that the firm and its representatives had a sufficient understanding of its risks and features, including the fact that the fund pursued a risky strategy that relied, in part, on purchasing uncovered options. Geneos also lacked a reasonable supervisory system to review representatives’ LJM recommendations. Geneos representatives sold more than $2.5 million in LJM to customers. LJM’s value dropped 80% during an extreme volatility event in February 2018 and the fund ultimately liquidated and closed, resulting in losses for Geneos customers. By virtue of the foregoing, Geneos violated FINRA Rules 3110 and 2010. Between April 27, 2018 and June 26, 2018, Geneos negligently omitted to tell three investors in an offering related to GPB Capital Holdings, LLC (GPB Capital) that the issuer failed to timely make required filings with the Securities and Exchange Commission, including filing audited financial statements. By virtue of the foregoing, Geneos violated FINRA Rule 2010.
Our attorneys have successfully represented hundreds of investors in investment disputes with their brokers and brokerage firms. Our consultations are free and we welcome all inquiries.