Former Geneos Wealth Management financial advisor, Bradley Joseph Tennison (Tennison), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action. The underlying basis of the investigation involved allegations Tennison recommended an investment outside or away from the firm. As a consequence of Tennison’s failure to cooperate with FINRA’s investigation, FINRA permanently barred him from the financial industry.
Tennison (FINRA CRD No. 1561988) entered the financial industry in 1989 as a general securities representative. Beginning in 2005, Tennison started working for Geneos Wealth Management, Inc. In April 2018, Geneos Wealth Management terminated when it received a written complaint from a former client of Mr. Tennison’s expressing concerns about an outside investment. Tennison’s FINRA BrokerCheck report discloses six negative disclosures, including three customer disputes.
FINRA’s Department of Enforcement initiated an investigation into Tennison’s alleged misconduct. FINRA specifically investigated whether Tennison recommended a $300,000 investment away from Geneos Wealth Management to a former customer. The unlawful business practice of recommending investments outside of a financial advisor’s firm is often referred to as “selling away.” Outside business transactions and selling away are prohibited activities because they serve to undercut the supervisory system implemented by FINRA-member firms and FINRA itself to protect the investing public.
FINRA sent Tennison a request to provide documents and information pursuant to FINRA Rule 8210. According to FINRA, Tennison failed to cooperate with the investigation. Based upon the foregoing alleged misconduct, FINRA asserted Tennison violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Tennison failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national investment litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. Please contact us at (800) 627-2179 for more information if you have been the victim of investment negligence or fraud.