The law firm of Oakes & Fosher is presently investigating the alleged misconduct of securities broker Genevieve Mar. According to her publicly available FINRA BrokerCheck report, Genevieve Mar has been the subject of multiple customer disputes over the course of her career.

Genevieve Mar is an Illinois based securities broker. She has worked in the securities industry for twenty-three years. During her career, she has been registered with four different securities firms.

Her Registrations

  • PFS Investments (1996-1997)
  • Woodbury Financial Services (1997-2009)
  • Brewer Financial Services (2009-2010)
  • Berthel, Fisher & Company (2010-Present)

The Allegations

  • In June 2011, customers alleged that Genevieve Mar made material misrepresentations and omissions, managed their account negligently, and committed fraud. This case went to arbitration where the customers were awarded $125,000 in damages.
  • In September 2013, a customer alleged that Genevieve Mar recommended unsuitable investments and and made material misrepresentations. This case was settled for $222,000 in damages.
  • In July 2018, customers alleged that Genevieve Mar recommended unsuitable investments and did not fully explain the risks associated with the investments at the time of the purchase. This case was settled for $14,999 in damages.
  • In May 2019, customers alleged Genevieve Mar recommended unsuitable investments and misrepresented important details about said investments. This case is currently pending. The customers are seeking $1.5 million in damages.
  • In December 2019, a customer alleged that Genevieve Mar recommended illiquid non-traded REITs. The customer believes that Ms. Mar did not adequately explain that dividends were dependent upon the REITs’ success. This case is currently pending. The customer is seeking $69,873 in damages.

What Does This Mean?

Different types of investors are suited for different types of securities. It is a securities broker’s responsibility to determine if a particular investment is suitable for their customer. They can accomplish this by analyzing important financial information provided by the customer. This information includes the customer’s age, net worth, financial situation, liquidity needs, risk tolerance, and investment objectives. Brokers who place their customers in securities contrary to these factors have invested the customer unsuitably.

Securities brokers also have a responsibility to fully disclose all information about an investment when pitching it to their customer. The investor must be made aware of the risks associated with the investment, any extra fees associated with that particular product, or how illiquid the investment may be. A failure to disclose this information, or a negligent or conscious effort to provide the customer with false information, can cause irreparable harm to investors.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Genevieve Mar, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.