Financial advisor Marc Korsch is facing millions in damages from clients while he was at Arkadios Capital and Centaurus Financial. In addition, Haselkorn & Thibaut, a national investor law firm, has opened an investigation into his sales practices and allegation of fraud. in It is a requirement of self-regulating agency FINRA (Financial Industry Regulatory Authority) that brokerage firms, as well as brokers, report disputes, customer complaints, and regulatory sanctions on their BrokerCheck profile. Brokers are also required to report personal financial matters such as bankruptcies, liens, and judgments.
Record of Marc F. Korsch
Marc Korsch was employed by Arkadios Capital from March 2021 to September 2021. Before that, he was employed by Centaurus Financial between February 2014 and February 2021. Before that, he was with the Trustmont Financial Group. That tenure was from March 2011 to March 2014.
He discloses IRS tax liens, 5 of them, for a total value exceeding $1 million, filed with Sarasota Clerk of the Court.
Korsch has 5 liens/ judgments on his profile that are currently outstanding, 6 prior customer disputes, and 6 pending customer disputes.
Complaints and arbitration cases settled
In FINRA arbitration case no. 17-0474, a customer of Trustmont Financial Group, where Korsch worked at the time, claimed damages of $500K for unsuitable recommendations through the FINRA arbitration process.
The FINRA arbitration panel reviewing the case awarded:
- $843,002 in damages
- $100,000 in punitive damages
- attorney fees of $82,500
Four other FINRA arbitrations were settled for a total of about $125,000.
The common theme amongst all these cases was that they involved real estate securities subsequently found to be illiquid and unsuitable by the customers.
Current pending claims
FINRA Case 20-3603
Damages of $100K were sought by a customer of Centaurus Financial for unsuitable and high-risk real estate recommendations made by Korsch.
FINRA Case 21-1475
Damages of $750K sought by a customer of Centaurus Financial. Breach of fiduciary duty and unsuitable recommendations made by Korsch cited as reasons.
FINRA Case 21-2295
Damages of $ 150K sought by a customer of Centaurus Financial. Overconcentration, high commissions, and risky, unsuitable investments in real estate are recommended by Korsch cited as reasons.
FINRA Case 21-2240
Damages sought – $400K. This was filed by a customer of Centaurus Financial who alleged high commissions as well as risky, unsuitable real estate investments recommended by Korsch.
FINRA Case 21-2322
Damages of $700K were sought by a customer of Centaurus Financial and Trustmont Financial who has claimed high commissions as well as unsuitable and risky real estate investments recommended by Lorsch as the reasons.
Legal support for investors
Have you had dealings with Marc F. Korsch in the past?
Are you concerned that you could have suffered on account of unsuitable advice or fraudulent actions of your broker or the brokerage firm?
If the answer to either question is a ‘yes’ we recommend you seek expert advice. FINRA makes available an arbitration process through which claims can be pursued.
Haselkorn represents investors nationwide in their efforts at recovering investment losses on account of wrongful acts of their brokers. Most cases are handled on a contingent fee basis; you do not pay legal fees till recovery is made. Investors can call them toll-free at 1-800-856-3352 offices in New York, Florida, Arizona, Texas, and North Carolina.
