Advisor Alert: Our Attorneys Are Investigating Edward Joseph Barfield For Investment Fraud
Did You Lose Money Because of Edward Barfield?
Filed: February 19, 2024
Edward Barfield currently has one (1) pending customer complaint. Overall, he has been the subject of one (1) regulatory event and seven (7) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Edward Joseph Barfield.
Who Is Edward Joseph Barfield of Geneos Wealth Management, Inc.?
- Advisor Name: Edward Joseph Barfield
- Aliases: Edward Barfield
- CRD: 4257082
- Location: Kirkwood, Missouri
- Current Employer: Geneos Wealth Management, Inc.
- Previous Firms: Cetera Advisor Networks LLC and Summit Financial Group Inc.
- Number of Known Customer Complaints: 7
- Number of Known Regulatory Events: 1
- Can Edward Barfield Be Sued: Yes, in Private Arbitration
- Can Edward Barfield’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $292,000
- Highest Settlement: $55,000
If you have suffered investment losses by Edward Barfield, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a stockbroker fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Edward Barfield For Broker Misconduct
As of this publication date, Edward Barfield has been the subject of 7 customer disputes and 1 regulatory event. Let’s review them below.
In February 2024, a FINRA arbitration was filed against or in reference to Edward Barfield by a customer of / Cetera alleging that Mr. Barfield made an unsuitable recommendation of a fixed whole life insurance product in 2020 and that the representative created a tax liability in the transferring of her IRA account to a revocable living trust account. Per the customer, she lost over $$292,000 because of Mr. Barfield’s actions.
In January 2017, a complaint was filed against or in reference to Edward Barfield by multiple customers of Oneamerica Securities, Inc. alleging that Mr. Barfield made unsuitable recommendations and failed to disclose information in connection with the sale of a variable annuity and variable universal life insurance policy. Per the customers, they lost over $291,921.36 because of Mr. Barfield’s actions.
In July 2015, FINRA initiated a regulatory action against or in reference to Edward Barfield after making unsuitable investment recommendations.
In February 2011, a complaint was filed against or in reference to Edward Barfield by multiple customers of Oneamerica Securities, Inc. alleging that the clients were misled into using 401k monies for the purchase life insurance that resulted in the purchase of two life insurance policies and not enough money to support the annual premium payments. Per the customers, they lost over $12,000 because of Mr. Barfield’s actions.
In October 2010, a complaint was filed against or in reference to Edward Barfield by a customer of Oneamerica Securities, Inc. alleging that the 1035 exchange of a variable annuity reduced the complainant’s guaranteed retirement income and that the investment strategy recommended by the representative, and ultimately employed by the complainant, was inappropriate and resulted in unnecessary losses. On November 23, 2010, Mr. Barfield settled the claim for $12,401.05, and some or all of this amount may have been paid by Mr. Barfield’s employer and/or insurance carrier.
In August 2010, a complaint was filed against or in reference to Edward Barfield by a customer of Park Avenue Securities LLC alleging breach of contract against guardian life insurance for failure to pay a death claim on a policy. Per the customer, he/she lost over $100,000 because of Mr. Barfield’s actions.
In May 2010, a complaint was filed against or in reference to Edward Barfield by a customer of Oneamerica Securities, Inc. alleging that the variable annuity that was purchased in June of 2008 was unsuitable. Per the customer, he/she lost over $180,000 because of Mr. Barfield’s actions. On May 17, 2011, Mr. Barfield settled the claim for $55,000, and some or all of this amount may have been paid by Mr. Barfield’s employer and/or insurance carrier.
In July 2009, a complaint was filed against or in reference to Edward Barfield by multiple customers of Oneamerica Securities, Inc. alleging that the recommendations that were made by Mr. Barfield and ultimately transacted on 6/29/2007 were unsuitable and exposed the clients to unnecessary market risks and tax consequences. On March 16, 2010, Mr. Barfield settled the claim for $32,000, and some or all of this amount may have been paid by Mr. Barfield’s employer and/or insurance carrier.
How To File A Claim Against Edward Barfield of Geneos Wealth Management, Inc. (previously with Cetera Advisor Networks LLC and Summit Financial Group Inc.) To Get Your Money Back
If you have questions about Edward Barfield, Geneos Wealth Management, Inc., Cetera Advisor Networks LLC, Summit Financial Group Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.