Bradley Joseph
Tennison (CRD#: 1561988), who is a previous registered representative of Geneos
Wealth Management, Inc., consented to Financial Industry Regulatory Authority
(“FINRA”) barring him in all capacities according to Tennison’s submission of a
Letter of Acceptance, Waiver and Consent No. 2018058302101, accepted by FINRA
on July 2, 2018. FINRA stated that Tennison failed to comply with FINRA’s
investigation concerning his possible misconduct in the securities industry.
After Geneos
Wealth Management’s April 2018 termination of Tennison’s registration, FINRA
began an investigation into Tennison’s possible sales practice violations.
FINRA’s investigation centered in on Tennison seemingly recommending for a
customer to invest $300,000 away from the firm. Tennison apparently failed to
provide FINRA with documentation and information in the time of FINRA’s
investigation. FINRA also found Tennison uncooperative when Tennison’s
testimony was requested. Apparently, Tennison retained legal counsel, who
contacted FINRA in June 2018 to state that Tennison would not testify in
FINRA’s investigation. FINRA stated that Tennison violated FINRA Rules 8210 and
2010 because of failing to cooperate.
FINRA BrokerCheck
indicates that Geneos Wealth Management discharged Tennison after a customer
complained about Tennison’s investment recommendations. According to Geneos
Wealth Management, Tennison failed to fully cooperate with the firm’s
investigation into his possible unsuitable recommendations.
Customers of
First Allied Securities and Geneos Wealth Management Inc. have filed disputes
concerning Tennison’s sales practices. Records show that a First Allied
Securities customer filed NASD arbitration #02-04176 on January 13, 2003, asserting
claims against Tennison of breach of fiduciary duty and unsuitability in
connection with the customer’s equity investments. The arbitration was settled
for $79,380.00 in damages on March 16, 2004.
The second
dispute was filed by a Geneos Wealth Mangement Inc. customer on March 4, 2010,
who alleged that Tennison gave the customer bad advice regarding limited
partnership investments. Tennison agreed to provide the customer $10,000.00 to
settle the matter. And on April 24, 2018, a Geneos Wealth Mangement Inc.
customer filed a complaint asserting that Tennison advised the customer to invest
$300,000.00 away from the firm. According to the customer, the investment was
supposed to have matured after one year; however, Tennison did not return the
customer’s principal. At least $300,000.00 in damages has been demanded by the
customer in the pending matter.
Investors who
have lost money by investing with Geneos Wealth Mangement brokers such as
Bradley Joseph Tennison should consider contacting the Law Office of Peter M.
Spett at (561) 463-2799 for a free consultation regarding their legal rights
and claims. Peter M. Spett is experienced at recovering investor losses.