Brent Fuchs, Osaic Broker, Allegedly Sold Oil & Gas Investments
Brent Fuchs (CRD# 4269916), a broker registered with Osaic Wealth, recommended unsuitable oil and gas investments, according to investor disputes. MDF Law is investigating the Preston, Maryland-based financial professional for similar conduct. If you have concerns about investments in your accounts, reach out for a free consultation with an attorney.
To learn more about the allegations involving Mr. Fuchs, continue reading this post. The information below is based on a January 29, 2025 review of his BrokerCheck profile, a Financial Industry Regulatory Authority record.
Pending Disputes Concern Oil & Gas Investments
In 2024, nine parties of investors filed disputes involving Mr. Fuchs. All nine claims allege that he recommended unsuitable oil and gas investments. The disputes are still pending, seeking a total of $975,000 in alleged damages.
Firm Denied 2020 Dispute
The above-described investor disputes are not the only ones in Mr. Fuchs’ record. In 2020, another investor lodged a claim alleging that he “misled and deceived” the claimant with respect to an alternative investment. According to his BrokerCheck profile, his former member firm denied the allegations. As a “Broker Comment” appended to the disclosure reads, “The firm’s investigation found no evidence to support the client’s allegation.”
Understanding FINRA Rules 2010 and 2111
The investor claims disclosed on Mr. Fuchs’ BrokerCheck report allege some relatively common forms of broker misconduct. Allegations of unsuitable recommendations, for example, relate to FINRA Rule 2111. Under this rule, brokers must perform “reasonable diligence” to ascertain whether a transaction or strategy is tailored to a customer’s background and objectives. Then there’s Rule 2020, which prohibits them from using “manipulative, deceptive, or other fraudulent device[s] or contrivance[s]” to effect or induce securities trades. In other words, brokers may not mislead their investors or recommend unsuitable products.
FINRA: Brent Fuchs Based in Preston, Maryland
Mr. Fuchs launched his career as a broker in 2000. That year, he registered with The Lincoln National Life Insurance Company’s office in Lutherville, Maryland. He is now registered with Osaic, which acquired Lincoln Financial in May 2024. As his BrokerCheck profile reflects, he is a representative of Heritage Financial Consultants, based in Preston, Maryland. With 24 years of experience as a broker, he has completed three industry exams, including the Series 7 and the Series 66.
Investment Losses? You May Have Recovery Options
MDF Law’s dedicated investment fraud attorneys have recovered more than $100 million in lost funds for investors. If you have concerns regarding oil and gas or other investments recommended by Brent Fuchs, contact our team to discuss potential recovery options. Our lawyers offer free consultations across the US. Your time to file an arbitration claim may be limited, so call 800-767-8040 today.