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The law firm of Oakes & Fosher is currently investigating the alleged misconduct of securities broker Marc Frederick Korsch. According to his publicly available FINRA BrokerCheck report, Marc Korsch had been the subject of multiple customer disputes over the course of his career. He is no longer working as a securities broker in any fashion.

March Korsch was a Florida-based securities broker who had worked in the securities industry for twelve years. During his career, he had been registered with six different securities firms.

His Registrations 

  • Gradient Securities (2009-2010)
  • Variable Investment Advisors (2010-2010)
  • Capital Financial Services (2010-2011)
  • Trustmont Financial Group (2011-2014)
  • Centaurus Financial (2014-2021)
  • Arkadios Capital (2021-2021)

The Allegations 

  • In June 2021, a customer alleged that Marc Korsch had recommended unsuitable investments and breached his fiduciary duty. The customer further alleges that the initials on the investment documents are not hers. This case was settled for $22,500 in damages.
  • In August 2021, a customer alleged that Korsch made misrepresentations, recommended unsuitable, illiquid investments, and breached his fiduciary duty. This case was settled for $29,500 in damages.
  • In November 2021, a customer alleged that Korsch concentrated her estate’s portfolio in unsuitable investments. This case was settled for $18,500 in damages.
  • Between 2020 and 2021, Korsch has faced multiple customer disputes alleging (among others), a concentration of their accounts in high-risk, unsuitable investments as well as a breach of fiduciary duty. These cases are currently pending while the customers seek compensation.
  • In December 2021, FINRA officially sanctioned Korsch for allegedly failing to respond to FINRA requests for information. As a result of this decision, Korsch was barred from acting as a securities broker in all capacities indefinitely.

What Does This Mean?

Securities brokers are required to make sure that their customers’ portfolios are adequately diversified in a suitable manner. This means that their account can not solely comprise of one or two securities. If this is the case, then the success or failure of the customer’s account is entirely determined by the success or failure of those one or two investments. Investor portfolios should consist of multiple investments so that the investor does not lose everything if the value of one security plummets.

Diversity is also important in regards to the level of risk. If an investor’s account is over-concentrated in high-risk securities, then the account can be incredibly volatile. Investors with more moderate objectives need to have their portfolios diversified among investments with varying levels of risks. This means that the customer can expose some assets to moderate risk, while to still keeping most of their assets in safe investments.

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 due to this fraud or negligence 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 Marc Korsch, 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.