Holt has lost his license and been permanently barred by the regulatory agency
Mark D. Holt has lost his license and can no longer act as a broker or representative in the financial services industry. According to the Financial Industry Regulatory Authority (FINRA), Holt is the subject of 11 disclosures, several customer complaints, two criminal complaints, and one regulatory sanction.
His 14-year career included work for several firms, most recently with Harbour Investments in North Oaks, Minnesota from 2007 to 2013, and before that with Geneos Wealth Management in Shoreview, Minnesota from 2005 to 2007. He was also employed by Linsco/Private Ledger Corporation in Boston, Massachusetts from 2000 through 2005 and by Securities America in Lavista, Nebraska from 1999 through 2000.
While employed at Geneos Wealth Management and Harbour Investments, it is alleged that Holt breached his fiduciary duty, violated federal securities law, and converted customer funds for personal use on more than one occasion. In addition, he is accused of having clients sign partially-blank annuity forms, selling unsuitable products, and failing to deliver contracts to two clients in the time required.
Holt has been ordered to pay hundreds of thousands of dollars in fines and he pled guilty to the criminal charge of wire fraud, which is a felony in the state of Minnesota.
If Mark David Holt acted as your financial advisor and you suffered losses as a result of this relationship, you may be able to recover some or all of your losses. To learn more about the allegations against him, you can review his BrokerCheck report, a complimentary service provided by FINRA.
The attorneys at Silver Law Group are leaders in the field of FINRA and securities arbitration. We represent individual and institutional investors across the United States who have lost money at the hands of a trusted financial advisor. Our services are provided on a contingency-fee basis, which means we are only compensated if there is a recovery of losses. For more information, contact us for a complimentary consultation.