Geneos Wealth Management Financial Advisor Samuel Monchik Faces an Investor Complaint Alleging Unsuitable Energy Sector Investments

Samuel Monchick (CRD#: 4113886) is a registered broker and investment advisor. Since 2008, Mr. Monchick has been a representative of Geneos Wealth Management (CRD#: 120894). BrokerCheck indicates that he is based in Lancaster, Pennsylvania. Recently, a customer filed a complaint against Mr. Monchick alleging illegitimate losses related to unsuitable investment recommendations.

Customer Complaint: Samuel Monchick of Geneos Wealth Management

In August of 2018, a Geneos Wealth Management customer filed a complaint against financial advisor Samuel Monchick. Among other things, the investor alleges that Mr. Monchick made unsuitable investment recommendations and that he breached his fiduciary duty. Brokers have a professional obligation to ensure that securities and other financial products are reasonably suitable for individual investors.

This investor complaint is related to direct participation program (DPP) investments and limited partnership (LP) investments in both the real estate and energy sectors. DPP and LP are non-traded financial products that are too risky for many investors. According to FINRA records, the alleged misconduct occurred between March of 2008 and November of 2015. As of early 2019, this complaint is listed as ‘pending’. There has been no finding of wrongdoing against Mr. Monchick or his brokerage firm.

Did You Lose Money in Unsuitable Energy Investments?

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