National investment loss lawyers KlaymanToskes is investigating broker Edward Barfield (CRD# 4257082) formerly of Cetera Advisor Networks and Geneos Wealth Management. Barfield is currently registered as a broker with Kovack Securities.
According to FINRA BrokerCheck, broker Edward Barfield has been involved in several customer complaints. One of the customer complaints filed alleged $292,000 in damages due to unsuitable recommendations to invest in a fixed whole life insurance investment. The complaint was settled in favor of the customer for $120,000. A second investor complaint alleged that the registered representative made unsuitable recommendations and failed to disclose information in connection with the sale of a variable annuity and variable universal life insurance policy, however this complaint was withdrawn.
Investors that suffered losses with broker Edward Barfield are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, financial advisor Edward Barfield has been involved in several customer complaints related to unsuitable recommendations to invest in variable annuity and life insurance policies. One investor complaint filed in February 2024 alleged that the representative made an unsuitable recommendation of a fixed whole life insurance product in 2020 and that the representative created a tax liability in the transferring of the customer’s IRA account to a revocable living trust account. The complaint alleged $292,000 in damages and was settled in favor of the customer for $120,000. A second investor complaint alleged that Barfield made unsuitable recommendations and failed to disclose information in connection with the sale of a variable annuity and variable universal life insurance policy, however this complaint was withdrawn.
In 2015, Barfield was involved in a regulatory issue whereby restitution was requested by the state of Missouri to repay a client for a fixed whole life insurance premium. The allegations by the state of Missouri included unsuitable investment recommendations.
Broker Edward Barfield was previously registered with Cetera Advisor Networks from September 2019 to March 2021 in Kirkwood, MO. Barfield was also registered with Geneos Wealth Management from March 2021 to October 2024. Currently, Barfield is registered with Kovack Securities in Kirkwood, MO.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Edward Barfield, or have concerns regarding your investment portfolio at Cetera Advisor Networks, Geneos Wealth Management, Kovack Securities, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.