Mark Tevebaugh Allegedly Sold Unsuitable Annuity
Mark Tevebaugh (CRD# 1567001), formerly a broker registered with NEXT Financial Group, is involved in an investor dispute alleging that he provided unsuitable investment advice. MDF Law is investigating the broker, currently registered as an adviser with OneAscent Financial Services, for similar conduct. Investors with complaints should contact us immediately.
More information about the financial professional follows below. The information is based on an October 31, 2023 review of his Financial Industry Regulatory Authority (FINRA) BrokerCheck profile. It is also based on a review of his Securities and Exchange Commission (SEC) Investment Adviser Public Disclosure, which notes that he is based in Tetonia, Idaho.
Pending Dispute Concerns Fixed Annuity
On August 30, 2023, an investor lodged a dispute alleging that Mr. Tevebaugh recommended an unsuitable fixed annuity product. The claim, which remains pending, seeks $500,000 in damages.
Firms Settled Past Disputes
The above-described pending dispute is not the only one in Mr. Tevebaugh’s BrokerCheck profile. In 2002 and 2018, two other parties of investors filed claims involving his investment advice. One alleged that he unsuitably recommended the surrender of an insurance policy to fund a variable annuity. The other alleged that he recommended unsuitable investments in high-risk real estate investment trusts (REITs) and business development companies (BDCs). The former dispute settled for $29,243.97, while the latter settled with his former member firm’s repurchase of three investments.
What Is Tevebaugh & Associates?
As his BrokerCheck record reflects, Mr. Tevebaugh is a registered investment adviser with OneAscent Financial Services, doing business as Tevebaugh & Associates. His firm’s website describes it as a full-service financial planning firm with a mission to “educate, instruct and equip followers of Christ in Biblical Stewardship principles.” Its “About” page explains that it works with “individuals who are concerned with maintaining portfolios that align with their values from an ethical and moral perspective” and primarily uses a fee-based financial planning schedule.
FINRA: Mark Tevebaugh Based in Tetonia, Idaho
Mark Tevebaugh launched his career as a broker in 1986, when he registered with Lincoln National Pension Insurance Company. Over the subsequent years, he worked at firms like MONY Securities Corporation, Summit Brokerage Services, and Cetera Advisor Networks. He was registered with NEXT Financial Group’s branch office in Indian Harbour Beach, Florida from 2014 until 2020. He has not been registered as a broker since then, although he is registered as an investment adviser with OneAscent Financial Services. As FINRA and SEC records reflect, the Tetonia, Idaho-based adviser does business as Tevebaugh & Associates.
Speak with an Investment Fraud Attorney Today
If you have lost money investing with Mark Tevebaugh, you may have recovery options. The dedicated investment fraud attorneys at MDF Law have significant experience advocating for investors through the FINRA arbitration process, recovering tens of millions in lost funds for our clients. We take cases on a contingency basis, meaning you only pay if you win. Call 800-767-8040 for a free consultation today.