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John Marcheso: $1mm Complaint Against Marcheso & Associates Advisor
Coeur D’Alene financial advisor John Marcheso (CRD# 869337) has received an investor complaint alleging seven-figure damages. Financial Industry Regulatory Authority records show that Mr. Marcheso is a representative of Centaurus Financial, doing business as Marcheso & Associates.
Mr. Marcheso’s BrokerCheck report discloses one pending investor complaint. Filed in May 2022, it alleges that as a representative of Centaurus Financial, he over-concentrated the claimants’ account and “recommended unsuitable, high-risk, and illiquid investments” in oil and gas securities and real estate securities. The pending complaint alleges damages of $1,000,000.
In a statement about the allegations contained in the May 2022 complaint, Mr. Marcheso “vehemently” denied the allegations and asserted that they lack merit. “The investments about which the customers 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 wrote, continuing: “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. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”
Mr. Marcheso’s BrokerCheck report also discloses an investor complaint that reached a settlement. Filed in 2020, it alleged that he recommended an unsuitable investment while a representative of Centaurus Financial. The complaint reached a settlement of $14,750. Mr. Marcheso similarly denied the allegations in a comment on the disclosure, stating in part: “[…] in an effort to avoid protracted proceedings, and the time and financial resources required, and in an effort to reach an expedited resolution with the customer, my broker/dealer unilaterally and without my agreement, settled with the customer, to which I made no monetary contribution.”
According to the Financial Industry Regulatory Authority, John Marcheso holds 39 years of securities industry experience. Based in Coeur D’Alene, Idaho, he is a broker and investment advisor with Centaurus Financial, doing business as Marcheso & Associates. His past registrations include NYLife Securities (New York, New York; 1983-2000). His credentials include the passage of eight securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Municipal Securities Representative Examination, or Series 52; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Direct Participation Programs Representative Examination, or Series 22; the Corporate Securities Limited Representative Examination, or Series 62; 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 Florida, Idaho, and Washington. (Information current as of June 6, 2022.)
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