Centaurus Financial Broker, Marc Korsch, Has Had Two Customer Complaints Since 2017, Alleging Unsuitability
The Wolper Law Firm is currently investigating claims against Marc Korsch, a Financial Advisor at Centaurus Financial in Port Charlotte, Florida. Marc Korsch has been in the securities industry since 2009 and previously worked at Trustmont Financial Group.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), in April 2018, a customer filed a complaint against Marc Korsch, alleging “that recommendation of annuity switches are unsuitable and that the fees, surrender penalties/charges and annuity terms were not adequately discussed.” Alleged damages were $55,000.
This is not Marc Korsch’s first customer complaint. In 2017, a customer filed a complaint against Marc Korsch relating to investment recommendations made while he was employed by Trustmont. The complaint alleged “Korsch was a subject of the customer’s complaint against Trustmont Financial Group, Inc. that asserted the following causes of action: violation of Florida’s Securities and Investor Protection Act § 517.011 et al; breach of fiduciary duty; common law fraud; failure to supervise; suitability; negligence/negligent misrepresentation/omission; breach of contract; restitution; and negligent supervision.”
The matter went to a final arbitration, where the Panel awarded the investor more than $1 million, including punitive damages.
For a full copy of Marc Korsch’s BrokerCheck report, click https://brokercheck.finra.org/individual/summary/5525226#disclosuresSection
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm is interested in speaking with clients of Marc Korsch as part of its investigation. We can be reached at 800.931.8452 or by email at email@example.com.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.