Close Menu
Free Consultation: 888-976-6111

Jim Geake: REIT Complaints Against Madison Avenue Advisor

Skokie financial advisor Jim Geake (CRD# 2629008) has received investor complaints alleging that he recommended unsuitable alternative investments, including NorthStar Healthcare REIT and Hospitality Investors Trust. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Madison Avenue Securities, doing business as Wayne Messmer & Associates.

Mr. Geake’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in November 2023, alleges that as a representative of Madison Avenue Securities, he recommended unsuitable alternative investments, “primarily in NorthStar Healthcare REIT.” The pending complaint alleges unspecified damages in connection with an investment of $1.1 million.

In a statement included with the pending complaint’s disclosure, Mr. Geake pushed back against the allegations. “This arbitration is a direct result of a mass marketing effort by claimant’s attorney primarily in regard to NorthStar Healthcare REIT,” he wrote. “Third party due diligence supported the financial strength of this product at the time of the sale. The representative contends the clients were fully informed and the recommendations were suitable for his direct investors.”

An earlier investor complaint, filed in January 2023, alleged that as a Madison Avenue Securities representative, he recommended unsuitable alternative products. In August 2023 the complaint reached a settlement of $31,000.

A third investor complaint, filed in 2021, alleged that he recommended unsuitable alternative investments, including Hospitality Investors Trust. The complaint reached a settlement of $450,000. “This arbitration is a direct result of a mass marketing effort by claimant’s attorney initially in regards to Hospitality Investors Trust,” he wrote in a statement included with the complaint’s disclosure. “Third party due diligence supported the financial strength of this product at the time of the sale.”

A fourth investor complaint, filed in 2018, alleged that he misrepresented and recommended unsuitable investments. In 2019 the complaint reached a settlement of $155,000.

Other current or former Madison Avenue Securities advisors to receive investor complaints include Vincent Virga, Grant Conness, Dmitry Tikhonov, David Geake, and John Thomas.

According to the Financial Industry Regulatory Authority, Jim Geake holds 28 years of securities industry experience. Based in Skokie, Illinois, he has been a broker and an investment advisor with Madison Avenue Securities since 2006 and 2009, respectively, doing business as Wayne Messmer & Associates. His past registrations include American General Securities (Skokie, Illinois; 2002-2006) and Franklin Financial Services Corporation (Houston, Texas; 1995-2002). 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 Investment Adviser Law Examination, or Series 65. He holds 25 state licenses. (Information current as of December 15, 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.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Morgan Stanley, Merrill Lynch Face Deferred Compensation Claims

    A number of advisors have filed claims against investment firms in connection with allegations that the firms illegally withheld their...

    Read More
  • Bruce Beetz: $300K Complaint Against Emerson Equity Advisor

    Hollister, California financial advisor Bruce Beetz (CRD# 1527269) allegedly recommended an unsuitable investment, according to a recent investor complaint. Financial...

    Read More
  • John Pigeon: $120K Complaint Against Osaic Advisor

    Fall River, Massachusetts financial advisor John Pigeon (CRD# 2354079) recently received an investor complaint alleging that his conduct resulted in...

    Read More
  • Skip Chatelain: Prospera, Dorsey Advisor Faces $100K-$500K Complaint

    A recent investor complaint against Metairie, Louisiana financial advisor Skip Chatelain (CRD# 4192942) alleges that his conduct resulted in six-figure...

    Read More
  • Previous
  • Next