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Darren Grossman: GM Financial Advisor Faces $150K Complaint

Bala Cynwyd financial advisor Darren Grossman (CRD# 5762586) is involved in an investor complaint alleging his investment advice resulted in damages of more than $100,000. Records maintained by the Financial Industry Regulatory Authority indicate that he is a broker and an investment advisor with Centaurus Financial, doing business as GM Financial Consultants.

Mr. Grossman’s BrokerCheck report discloses one pending investor complaint. Filed in July 2022, it alleges that as a representative of Centaurus Financial, he “recommended a high-risk, unsuitable and illiquid investment” in a corporate bond product. The pending complaint alleges damages of $150,000.

In a statement included with the pending complaint’s disclosure, Mr. Grossman defends himself against the allegations, which he denies and describes as completely meritless. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment,” he continues, adding further: “The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments.” He concludes the statement by asserting that he placed the customer’s interests firsts “at all times” and that he will “vigorously defend this matter to the fullest extent of the law.”

According to the Financial Industry Regulatory Authority, Darren Grossman holds 12 years of securities industry experience. Based in Bala Cynwyd, Pennsylvania, he has been a broker and an investment advisor with Centaurus Financial since 2017, doing business as GM Financial Consultants. He was previously registered with MSI Financial Services in Bala Cynwyd from 2011 until 2017. His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California, Delaware, the District of Columbia, Florida, Indiana, Nevada, New Jersey, North Carolina, Pennsylvania, Texas, West Virginia, and Wisconsin. (Information current as of March 17, 2023.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

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