Jim Geake Allegedly Recommended Unsuitable Investments

Jim Geake (CRD #: 2629008), a broker registered with Madison Avenue Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 23, 2024. Keep reading if you have questions regarding his alleged conduct. 

Allegations of Unsuitable Recommendations 

On December 21, 2023, investors alleged that Jim Geake recommended unsuitable, alternative investments starting in 2015. The investor is seeking $100,000.

On November 29, 2023, investors alleged that Jim Geake recommended unsuitable investments, primarily Northstar Healthcare REIT. 

According to allegations filed on July 2, 2021, Jim Geake made multiple unsuitable recommendations of alternative investments, including Hospitality Investors Trust. The investors sought $750,000 and the dispute settled for $450,000. 

Settled Allegations

Jim Geake has numerous investor disputes on his record. There are a total of seven additional settled disputes on his record. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Jim Geake has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 24 General Securities Principal Examination 

He is a registered broker in 23 states and is a registered investment adviser in Illinois and Texas. 

Jim Geake has registered with the following firms: 

• Madison Avenue Securities (CRD #: 23224) 
• Madison Avenue Advisors (CRD #: 137461) 
• American General Securities Incorporated (CRD #: 13626) 
• Franklin Financial Services Corporation (CRD #: 5435) 

Kurta Law Can Help 

If you have worked with Jim Geake and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Do not let securities fraud go unchecked. Start your recovery process today.