Ex-Arkadios Capital Financial Advisor is Accused of Unsuitability & Concentration
A former broker and investment advisor, Marc Frederick Korsch, is currently named in several pending customer disputes in which, as of November 2021, the claimants are still seeking to recover $2.8M in damages.
Korsch was an Arkadios Capital financial advisor for six months until early September 2021. The investor claims naming him appear to be from his time with other broker-dealers including:
- Trustmont Financial Group where he was registered from 2011 to 2014
- Centaurus Financial where he was a broker from 2014 to early 2021
Our Florida broker misconduct attorneys are investigating claims of investment losses by former customers of Sarasota, Florida financial advisor Marc Korsch. Contact us at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) so that we can help you explore your legal options.
Disclosures Against the Ex-Florida Broker Are Still Pending
Of the 19 disclosures on Marc Korsch’s BrokerCheck record, 12 of them are customer disputes. Six of them are still pending, including:
- September 2021: Customers of Marc Korsch while he was a Trustmont Financial Group broker, say that they invested $900K and also $150K while he was with Centaurus Financial. They are alleging that he recommended unsuitable, complex, and risky investments that charged high commissions. Now, they are requesting $700K in damages.
- September 2021: These claimants are making similar allegations against Korsch during his time at both firms, although the amounts invested appear to be $900K and $135K. They too are requesting $700K in damages.
- September 2021: Also alleging unsuitability and concentration involving complex, risky investments that charged high commissions, this customer is seeking $150K in damages.
- September 2021: Making similar allegations, this investor is requesting $400K in damages.
- June 2021: Accusing Korsch of breach of fiduciary duty and unsuitable investments, these investors are pursuing $750K in damages.
- October 2020: This former customer of Korsch’s is also claiming breach of fiduciary duty and unsuitability. They are requesting $100K in damages.
Other recent customer disputes involving Marc Korsch that have resulted in settlements:
- August 2021: This misrepresentation and unsuitability case involving illiquid investments was concluded with a $29,750 settlement.
- August 2021: Making similar allegations, the claimants received a $29,500 settlement.
- June 2021: This investor claim also alleging unsuitability was resolved with a $22,500 settlement.
- October 2020: This unsuitable case was settled for $37K.
- June 2019: This misrepresentation case, which sought $53K in damages, was closed due to lack of action.
- February 2017: A FINRA arbitration panel in Florida awarded the claimant over $948K plus other costs for a securities case in which $500K in damages had been sought against Trustmont Financial Group. Korsch had been registered here at the time. The customer had alleged failure to supervise, negligence, fraud, unsuitability, and other claims.
Marc Korsch worked for 12 years in the industry. Other firms where he used to be registered include Capital Financial Services, Variable Investment Advisors, Gradient Securities, NAV Wealth Advisors, and Arkadios Wealth Advisors.
Skilled Brokerage Firm Negligence Lawyers
To speak with one of our experienced investment fraud attorneys at SSEK Law Firm if you were a customer of ex-Arkadios Capital broker Marc Korsch, in Florida call (813) 560-2992. Throughout the US, call us at (800) 259-9010. We have recovered many millions of dollars on behalf of thousands of investors against brokerage firms and their financial advisors.