Richard Mark Braverman (also known as Rich Braverman) of Lancaster Pennsylvania a stockbroker currently registered with Geneos Wealth Management Inc. is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $90,000.00 in damages founded on allegations that it was not suitable for the customer to be sold direct investments including direct participation program interests or limited partnership interests. FINRA Arbitration No. 20-01803 (Dec. 3, 2020). The claim alleges breach of fiduciary duty by Braverman during the time that he was associated with Geneos Wealth Management.
Braverman has been identified in five additional customer initiated investment related disputes containing accusations of his wrongdoing during the period that he was employed by FSC Securities Corporation. FINRA Public Disclosure confirms that Braverman is the subject of a customer initiated investment related written complaint which was resolved for $105,662.26 in damages based upon allegations that Braverman placed the FSC customer into an unsuitable annuity as it failed to provide adequate income for the customer.
Another customer initiated investment related FINRA securities arbitration claim regarding Braverman’s activities was settled for $14,500.00 in damages supported by accusations that unsuitable real estate security and mutual fund recommendations were made to the FSC customer. On July 17, 2017, a different customer filed an investment related complaint involving Braverman’s conduct where the customer requested $47,000.00 in damages founded on allegations that Braverman recommended unsuitable oil and gas securities to the customer when the stockbroker was associated with FSC.
Braverman is additionally referenced in a customer initiated investment related FINRA securities arbitration claim which was resolved for $32,500.00 in damages based upon accusations of providing unsuitable investment advice in conection with a real estate security that he sold to the Geneos customer. FINRA Arbitration No. 16-03558 (Nov. 10, 2017). On October 16, 2019, another customer initiated investment related FINRA securities arbitration claim concerning Braverman’s activities was settled for $85,000.00 in damages supported by allegations that the stockbroker made omissions to the customer concerning the risks of direct investments and real estate investments. FINRA Arbitration No. 18-02873 (Oct. 16, 2019). According to the claim, there was a breach of fiduciary duty during the period that Braverman was associated with FSC and Geneos.
Braverman was terminated by FSC founded on accusations that his non-traded real estate investment trust transactions were violative of the securities broker dealer’s policy. Since October 1, 2008, he has been registered as both a stockbroker and investment adviser representative of Geneos.
