Jeffrey Furniss Allegedly Sold Unsuitable Oil & Gas Investments

Jeffrey Furniss (CRD# 4888498[1]), a broker registered with LPL Financial, recommended unsuitable oil and gas investments, according to recent disputes. MDF Law is investigating the Annapolis, Maryland-based financial professional, who does business as Charter Financial Group, for similar conduct. If you have concerns about investments in your portfolio, call us for a free consultation with an attorney. 

More information about the allegations against Mr. Furniss can be found in this post. The information below is based on an October 29, 2024 review of his Financial Industry Regulatory Authority BrokerCheck profile.

Pending Dispute Seeks More Than $250,000

Three parties of investors filed disputes involving Mr. Furniss in 2024. All three claims allege that he recommended an unsuitable oil and gas investment. Between them, the disputes seek cumulative damages of $275,000.

Broker Defends Against Allegations

Mr. Furniss issued statements denying the pending disputes’ allegations, according to his BrokerCheck record. “We vehemently deny any merits to the claim that the investment was ‘unsuitable,’” these statements read. “The claim was a class action suit against Lincoln Financial not me as the advisor.”

Past Disputes Concerned Annuity, REIT Products

The above-described investor disputes are not the only ones in Mr. Furniss’s professional history. Between 2017 and 2022, three other parties of investors filed disputes involving him. These claims included allegations that he recommended unsuitable investments in oil and gas products, as well as annuity and REIT products. One claim also alleges that he failed to disclose important facts regarding a third-party managed account. His former member firm settled the disputes for a total exceeding $291,000.

Jeffrey Furniss “Vehemently” Denied Claims

Mr. Furniss also issued statements defending against the allegations in the above-described settled disputes. With respect to two 2022 claims alleging that he recommended unsuitable oil and gas investments, he wrote that he “vehemently” denied the allegations. As for a 2017 dispute alleging that he failed to disclose facts and recommended unsuitable products, he also asserted that the allegations had merit. 

“The investments in question were part of a holistic financial plan that fell within the client’s documented risk tolerance as a whole,” he asserted. “Lincoln Financial Advisors made the determination to settle the claim, based in part on the cost and time to further defend the claims. I did not contribute to the settlement and admitted no liability.”

What Is Charter Financial Group?

As his BrokerCheck profile discloses, Mr. Furniss does business under the brand name Charter Financial Group. “His clients are comprised of small and medium sized business owners and executives of publicly held corporations who need help identifying and pursuing their financial goals,” reads his “About[2]” page on the firm’s website. “His practice focuses on helping families have a holistic, financial Charter for their lives for important matters now, for later and for their legacy.”

FINRA: Broker Based in Annapolis, Maryland

Mr. Furniss launched his career as a broker in 2005. That year, he registered with Lincoln Financial Advisors (since acquired by Osaic) in Annapolis, Maryland. He remained at the firm until October 2024, when he registered with LPL Financial’s office in Annapolis. With 19 years of experience as a broker, he has completed three industry exams, including the Series 66 and the Series 7. 

Oil & Gas Investment Complaints? Call MDF Law

MDF Law has recovered tens of millions in investment losses for the victims of investment fraud. If you have complaints regarding investments you made with Jeffrey Furniss, call our team to discuss your options. Our broker fraud attorneys[3] currently provide free consultations across the US. Call 800-767-8040 to speak with us today.