FINRA barred former Geneos Wealth Management (Mesa, AZ) broker Bradley Joseph Tennison in connection with an investigation into recommending a customer wire $300,000 to an investment away from the firm, launched after Geneos terminated Tennison in April 2018. After Tennison reportedly failed to fully cooperate with investigators, FINRA opted to bar him from the securities industry.
According to Tennison's file (CRD #1561988), a former customer filed a dispute in April alleging that Tennison recommended she wire $300,000 to an investment called "The Joseph Project," and away from Geneos, which accordingly says it has no record of the investment.
In discharging Tennison, Geneos wrote that Tennison did acknowledge that the wire transfers to a third party occurred, although the broker asserts they were not investment related.
Tennison's former customer claims that she understood "The Joseph Project" to be a 12-month investment with 5% enhancement, and that she has not received any statements nor return of any principal. The complaint alleges that Tennison acted outside of regulations in recommending his customer wire $300,000 away from the firm.
FINRA and member firm compliance and supervision rules generally require all activities, recommendations, and investments effected between registered representatives and firm customers take place through firm systems, or, if the transaction pertains an outside business activity, that the representative fully disclose the activity to the firm, which must approve said activity prior to any transactions taking place, with brokers and firms alike working to ensure that accurate books and records are maintained.
If you have invested with former Geneos Wealth Management representative Bradley Joseph Tennison, his Mesa-based Tennison Investments, Inc. business, or with any broker or financial adviser who has unsuitably or improperly recommended you wire or otherwise fund an investment away from the broker's registered firm, and this unapproved "off the record" investment has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.