Geneos Broker Barred For Not Cooperating With FINRA Investigation

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.