Broker failed to respond to agency requests for information regarding reportedly unsuitable trades in senior customer accounts.
Over the course of the Financial Industry Regulatory Authority (FINRA) investigation into broker Michael Koehler’s discharge from Cetera Advisor Networks in 2015, the regulatory agency reviewed the broker’s activity in a senior customer’s account for allegedly engaging in unsuitable trades.
According to his FINRA BrokerCheck report, the investigation findings stated, “that during its investigation, FINRA also reviewed trading in certain other of Koehler’s customer accounts, including those associated with a second customer and her senior customer parents. FINRA sought to investigate, among other activity, whether Koehler engaged in unsuitable trading, including short-term mutual fund switching and excessive trading in customer accounts, placed undue influence on the second customer before her death, and failed to disclose his status as a named beneficiary in the second customer’s will to his member firm.”
Given the chance to respond to these allegations of FINRA rules violations and elder financial fraud, Koehler refused to produce information and documents requested by the regulatory organization. As a result, Koehler has been barred from acting as a broker or otherwise associating with firms that sell securities to the public.
Prior to his employment with Kovack Securities, Inc. in Chadds Ford, PA from March 2015 to June 2017, Mark Koehler was employed by seven other firms, including:
- Cetera Advisor Networks LLC in Chadds Ford, PA from December 2006 to February 2015
- Sterne Agee Financial Services, Inc. in Jeffersonville, PA from November 2006 to December 2006
- Ferris, Baker Watts Incorporated in Wilmington, DE from September 2004 to November 2006
- Janney Montgomery Scott LLC in Philadelphia, PA from July 2001 to October 2004
Koehler also conducted business under the name Koehler Wealth Management in Chadds Ford.
If you or a loved one enlisted the services of broker Mark Koehler and have suffered losses as a result of this relationship, you may be able to recover some or all of your losses through securities arbitration.
Silver Law Group specializes in fighting for clients who have lost investments at the hands of brokers and financial advisors who have taken advantage of their positions. Scott Silver is the current chair of the American Trial Lawyers Association Securities and Financial Fraud Group and our expert legal team represents clients in securities law arbitration cases to help them recover funds and get a sense of justice. We operate on a contingency-fee basis, so our team does not profit unless we recover your funds.
If you think that your investments have been mismanaged or if you are concerned because you worked with a broker like Michael Koehler, contact our team. We will sit down with you, listen to your story, and develop a plan to assess your situation and possible legal recourse.