Genevieve Garcia Mar (also known as Gen Mar), of Northbrook, Illinois, a stockbroker registered with Berthel Fisher Company Financial Services Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim in which customers were collectively awarded $467,000.00 in compensatory damages because Mar was held liable on the customer’s claims, including that she breached her fiduciary duties, breached a contract, was negligent, made misrepresentations and omissions of material fact, and committed fraud in connection with the sale of direct participation programs, non-traded real estate investment trusts (REITs), and promissory notes during the time that she was associated with Berthel Fisher Company Financial Services Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-01803 (August 2, 2021).
FINRA Public Disclosure shows that Mar is referenced in seven other customer initiated investment related disputes concerning Mar’s conduct while associated with securities broker dealers. On December 12, 2012, a customer initiated investment related FINRA securities arbitration claim involving Mar’s conduct resulted in customers being collectively awarded $125,000.00 in compensatory damages because Mar was held liable on the customer’s claims which included that Mar breached her fiduciary duties, made misrepresentations, was negligent, and committed fraud in connection with the sale of promissory notes. FINRA Arbitration No. 11-02248.
On October 13, 2014, another customer initiated investment related FINRA securities arbitration claim involving Mar’s conduct was settled for $208,500.00 in damages based upon allegations that Mar made unsuitable recommendations and omissions of material fact in connection with the sale of real estate investment trusts when Mar was associated with Woodbury Financial Inc. FINRA Arbitration No. 13-02526.
Mar is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $14,999.00 in damages based upon allegations that Mar made unsuitable recommendations and omissions in connection with the sale of real estate investment trusts when Mar was associated with Berthel Fisher Company Financial Services Inc. FINRA Arbitration No. 18-03425 (January 2, 2020). The claim alleges that the investments performed poorly.
On January 15, 2021, another customer filed an investment related complaint involving Mar’s conduct in which the customer requested $69,873.68 in damages based upon alleged unsuitable recommendations of real estate investment trusts during the time that Mar was associated with Berthel Fisher Company Financial Services Inc. The claim alleges that the investments were illiquid and stopped paying dividends following the customer’s purchase.
Mar is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $20,100.00 in damages based upon allegations that Mar made unsuitable real estate investment trust recommendations. FINRA Arbitration No. 20-03867 (March 23, 2021). The claim also alleges that the securities broker dealer failed to supervise Mar.
On April 19, 2021, another Berthel Fisher Company Financial Services Inc. customer filed an investment related complaint involving Mar’s conduct in which the customer requested compensation based upon allegations that Mar mismanaged investment accounts and made unsuitable recommendations of illiquid real estate investment trusts and business development companies (BDCs).
Mar was also referenced in a customer initiated investment related complaint filed on May 12, 2021, in which the customer requested compensation based upon allegations that Mar made omissions of material fact in connection with the sale of real estate investment trusts and business development companies, including AR NYC REIT and BDCs.
Mar has been registered with Berthel Fisher Company Financial Services Inc. as a stockbroker and investment adviser representative since November 5, 2010.
