Mark Tevebaugh Allegedly Recommended Unsuitable Investments

Mark Tevebaugh (CRD #: 1567001), a broker formerly registered with Next Financial Group, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 2, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Disputes

On February 14, 2023, an investor alleged that Mark Tevebaugh made unsuitable investment recommendations. This dispute is currently pending.

In a dispute filed on February 6, 2018, an investor alleged that Mark Tevebaugh invested their funds in unsuitable and high-risk real estate investment trusts (REITs) and Business Development Companies (BDCs) from approximately September 2014 through October 2016.

The client sought $110,000 in damages and the dispute was resolved by the firm repurchasing a REIT and two BDC investments from the client.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which describe their age, tax status, and other characteristics.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

What are Real Estate Investment Trusts?

Real estate investment trusts (REITs) allow investors to pool their funds together in a portfolio of real estate and earn returns without managing the properties themselves. However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

What are Business Development Companies?

Business Development Companies (BDCs) allow investors to invest in the private sector. BDCs extend loans to distressed companies, and investors can see high returns generated by the interest these companies pay. However, the possibility of default and other risks can make BDCs unsuitable for some investors.

Background Information

Mark Tevebaugh has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

He has also worked for the following firms:

• Next Financial Group (CRD#:46214)
• Cetera Advisor Networks (CRD#:13572)
• Blue Vase Securities (CRD#:46765)     
• Empire Financial Group (CRD#:28759)
• Summit Brokerage Services (CRD#:34643)
• Mony Securities Corporation (CRD#:4386)
• Ascend Financial Services (CRD#:15296)
• Lincoln Financial Advisors (CRD#:3978)
• The Lincoln National Life Insurance Company (CRD#:2580)
• Lincoln National Pension Insurance Company (CRD#:10293)

Kurta Law Can Help

If you worked with Mark Tevebaugh and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.