Brent Michael Foster of Indianapolis, Indiana, a senior wealth manager registered with Indie Asset Partners LLC, was the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $409,383.59 in damages based upon allegations that Foster breached his fiduciary duties, breached a contract, overconcentrated the customer’s account in certain investments, and was negligent in connection with the sale of private funds when Foster was associated with Indie Asset Partners LLC. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-02000 (January 30, 2023). The claim also alleges that Indie Asset Partners LLC failed to supervise certain registered representatives involved with the customer’s account.
FINRA Public Disclosure shows that Foster is referenced in fifteen other customer initiated investment related disputes concerning Foster’s conduct. On December 20, 2022, a customer initiated investment related FINRA securities arbitration claim involving Foster’s conduct was settled for $350,000.00 in damages based upon allegations that Foster violated state securities laws, was negligent, and breached his fiduciary duties in connection with the recommendation and sale of private funds. FINRA Arbitration No. 22-01451.
On December 23, 2022, a different customer initiated investment related FINRA securities arbitration claim involving Foster’s conduct was settled for $262,500.00 in damages based upon allegations that Foster failed to perform due diligence, was negligent, breached a fiduciary duty, and breached a contract in connection with the sale of private placements. FINRA Arbitration No. 21-02865.
Foster is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $75,000.00 in damages based upon allegations that Foster breached his fiduciary duties, was negligent, breached a contract, and overconcentrated accounts in certain investments, including private placements through Indie Asset Partners LLC. FINRA Arbitration No. 21-02357 (December 27, 2022). According to the claim, Indie Asset Partners LLC failed to supervise certain stockbrokers.
On January 12, 2023, an additional customer initiated investment related FINRA securities arbitration claim involving Foster’s conduct was settled for $225,000.00 in damages based upon allegations that Foster breached a contract and his fiduciary duties, failed to perform due diligence, was negligent, and overconcentrated accounts, and that the firm failed to supervise certain registered representatives in connection with the recommendation and sale of private funds. FINRA Arbitration No. 21-02001.
Foster was registered with Indie Asset Partners LLC as a senior wealth manager between April 2017 and October 2020.
