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Edward Barfield: $292K Allegations Against Veritas Advisor
Kirkwood, Missouri financial advisor Edward Barfield (CRD# 4257082) allegedly recommended an unsuitable insurance product, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Geneos Wealth Management, doing business as Veritas Advisors.
Mr. Barfield’s BrokerCheck report discloses several investor complaints. The most recent, filed in July 2023, alleges that as a representative of Geneos Wealth Advisors, he recommended an unsuitable fixed whole life insurance product and created a tax liability when transferring the customer’s IRA account to a revocable living trust account. The pending complaint alleges damages of $292,000.
An earlier investor complaint, filed in 2010, alleged that he recommended an inappropriate investment strategy that resulted in unnecessary losses while at OneAmerica Securities. The complaint reached a settlement of $12,401.05.
A third investor complaint, filed in 2010, alleged that as a OneAmerica representative, he recommended an unsuitable variable annuity in 2008. In 2011 the complaint reached a settlement of $55,000.
A fourth investor complaint, filed in 2009, alleged that he recommended unsuitable transactions that exposed the customers “to unnecessary market risks and tax consequences.” In 2010 the complaint reached a settlement of $32,000.
In 2015 the State of Missouri sanctioned Mr. Barfield in connection with allegations he made unsuitable investment recommendations. He was ordered to pay a sum of $4,000 to refund the customer’s fixed whole life insurance premium.
According to the Financial Industry Regulatory Authority, Edward Barfield holds 22 years of securities industry experience. Based in Kirkwood, Missouri, he has been a broker and an investment advisor with Geneos Wealth Management since 2021, doing business as Veritas Advisors. His past registrations include Cetera Advisor Networks (Kirkwood, Missouri; 2019-2021), Summit Brokerage Services (Kirkwood, Missouri; 2010-2019), OneAmerica Securities (St. Louis, Missouri; 2003-2010), Park Avenue Securities (Chesterfield, Missouri; 2001-2003), and Fort Washington Brokerage Services (Cincinnati, Ohio; 2000-2001). His credentials include the passage of six securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Missouri and Texas. (Information current as of August 5, 2023.)
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