Michael John Osland of Scottsdale Arizona a stockbroker currently employed by Geneos Wealth Management Inc. is the subject of a customer initiated investment related arbitration claim where the customer sought $350,000.00 in damages founded on allegations that between 2008 and 2017, Osland made investment recommendations that were not suitable concerning (1) real estate securities (2) oil and gas products (3) mutual funds and (4) variable annuity products. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-03196 (Dec. 6, 2017).
FINRA Public Disclosure also reveals that a customer initiated investment related arbitration claim regarding Osland’s activities was settled for $140,000.00 in damages supported by accusations that the customer was poorly advised in reference to oil and gas investments executed in the customer’s portfolio. FINRA Arbitration No. 16-02481 (Sept. 29, 2017).
Moreover, Osland has been fined $1,500.00 by North Dakota Office of the Securities Commissioner based upon Osland’s consent to findings that while associated with SunAmerica Securities, Inc., he failed to be registered as an investment adviser representative in North Dakota prior to advising two North Dakota residents.
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