FINANCIAL ADVISOR LAWRENCE ADAMO, NFP SECURITIES, FUSION FINANCIAL AND GENEOS WEALTH MANAGEMENT - INVESTIGATION FOR SALES OF UNSUITABLE PRIVATE INVESTMENTS
Zamansky & Associates LLC (“Zamansky”) announces that it is investigating financial advisor Lawrence Adamo (“Adamo”), and his firms NFP Securities (“NFP”), Fusion Financial (“Fusion”) and Geneos Wealth Management (“Geneos”) over sales of unsuitable private investments. Adamo and his firms served as a purported independent financial advisor to their customers. As such, Adamo and his firms had a fiduciary duty to recommend only suitable investments to their clients, based upon analysis of the client’s particular investment objectives, needs, risk tolerance and experience.
The investigation concerns whether Adamo and his firms, NFP, Fusion and Geneos, sold clients unsuitable private investments to maximize their own commissions, rather than serve the best interests of clients. Adamo and his firms sold various supposedly “safe” and “secure” private investments that generated income. Unfortunately, the private investments were not safe and secure, as was represented to clients, and had risks that were not disclosed to the clients. For example, one such fund was the Hennessy Financial fund that merged into True North Finance, then was sued by the Securities & Exchange Commission for running an illegal Ponzi scheme. Other funds that may have been sold without sufficient risk disclosure were Icon Leasing funds, Noble gas and oil funds and others. Zamansky is investigating whether the sales are tainted by fraud, breach of fiduciary duty and unsuitable investment advice.
If you were an investor through Adamo, NFP, Fusion or Geneos in any private funds, and wish to discuss your rights, please contact us for an evaluation. If you have any knowledge or information that would assist the investigation, please contact us with the information. Please contact Jake Zamansky at (212) 742-1414, or by email at firstname.lastname@example.org.