Securities Lawyers Blog
Advisor Richard Braverman (Braverman), currently employed by Geneos Wealth Management, Inc. (Geneos Wealth) has been subject to at least five customer complaints during the course of his career. According to a BrokerCheck report the customer complaints mostly concerns alternative investments such as direct participation products (DPPs) like non-traded real estate investment trusts (REITs), oil & gas programs, annuities, and equipment leasing programs. The attorneys at Gana Weinstein LLP have represented investors who suffered losses caused by these types of products.
In August 2018 a customer complained that Braverman violated the securities laws by alleging that the investments were subject to unsuitable recommendations, breach of fiduciary duty and failure to adequately disclose the risks in real estate investments and direct investments interests purchased between March of 2008 and November of 2015. The claim is currently pending.
In July 2017 a customer complained that Braverman violated the securities laws by alleging that the investments were subject to unsuitable recommendations of an oil & gas investment in June 2008. The claim sought $47,000 in damages and was denied by the firm.
In September 2008 Braverman was permitted to resign from FSC Securities Corporation (FSC) over allegations that he violated the firm’s policies with respect to non-traded REITs.