Marc Korsch: More than $1.5 Million in Losses Alleged Against Ex-Centaurus Rep

Financial Industry Regulatory Authority (FINRA) records accessed on October 20, 2021 indicate that former Florida-based Centaurus Financial broker/adviser Marc Korsch has received numerous recent pending customer disputes and is currently not registered with any broker-dealer firm. MDF Law is interested in hearing from investors who have complaints regarding Mr. Korsch (CRD# 5525226).

Multiple Customers Complaint About Korsch’s Recommendation of Illiquid Investments

According to his BrokerCheck report[1], Marc Korsch has received three customer complaints and six pending customer complaints.  It appears that the majority of these complaints pertain to illiquid investment offerings.  These can include non-traded REITs and business development corporations. These investments are often sold due to the very high sales commissions paid to advisors.

In 2021 a customer alleged Marc Korsch, while employed at Centaurus Financial, concentrated the account in “high-commission, complex and risky investments.” The customer is seeking $400,000 in damages in the pending complaint.

In 2021 a customer alleged Marc Korsch, while employed at Centaurus Financial, made unsuitable investments in “complex and risky” securities. The customer is seeking $150,000 in damages in the pending complaint.

In 2021 a customer alleged that while employed at Centaurus Financial, he misrepresented material facts, recommended unsuitable and illiquid investments, and breached his fiduciary duty in connection to investments in real estate securities. The complaint settled for $29,500.

In 2021 a customer alleged that while at Centaurus, he made unsuitable investment recommendations and breached his fiduciary duty; the customer also alleged that “initials on the investment documents [were] not hers.” The complaint settled for $22,500.

In 2021 a customer alleged that while at Trustmont Financial Group and Centaurus Financial, he recommended “high-commission, unsuitable, complex and risky investments,” including insurance and real estate products. The customer is seeking $700,000 in damages in the pending complaint.

In 2021 a customer alleged that while a representative at Centaurus Financial, he recommended unsuitable and illiquid investments, misrepresented material facts, and breached his fiduciary duty in connection to real estate investments. The customer is seeking $250,000 in damages in the pending complaint.

In 2021 a customer alleged that while at Centaurus Financial, he made unsuitable recommendations and breached his fiduciary duty. The customer is seeking $750,000 in damages in the pending complaint.

In 2017 a customer alleged that while employed at Trustmont Financial Group, he violated Florida securities regulations, breached his fiduciary duty, committed fraud, failed in his supervisory duties, made unsuitable investment recommendations, misrepresented and omitted material facts, and breached contract. The complaint resulted in an award to the customer of $1,046,098.31.

Marc Korsch Also Registered with Trustmont Financial Group

March Korsch has spent 12 years in the securities industry and was most recently registered with Arkadios Capital in Sarasota, Florida from March 2021 to September 2021. His previous registrations include Centaurus Financial in Sarasota, Florida (2014-2021); Trustmont Financial Group in Sarasota, Florida (2011-2014); Capital Financial Services in Port Charlotte, Florida (2010-2011); Variable Investment Advisors in Tea, South Dakota (2010); and Gradient Securities in Port Charlotte, Florida (2009-2010). He has passed six securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), obtained on July 28, 2009; Series 65 (Uniform Investment Adviser Law Examination), obtained on July 1, 2009; SIE (Securities Industry Essentials Examination), obtained on October 1, 2018; Series 7 (General Securities Representative Examination), obtained on July 6, 2010; Series 6 (Investment Company Products/Variable Contracts Representative Examination), obtained on July 29, 2009; and Series 24 (General Securities Principal Examination), obtained on October 4, 2010. He currently is not registered with any state or firm.

Did you Lose Money with Marc Korsch?