Brian Korienek is a shady financial advisor who runs Goldstone Financial Group.
He has received numerous complaints for misrepresentation, fraud and breach of fiduciary duty. Before you consider working with him or Goldstone Financial Group, it would be best to go through his long history of customer disputes.
This way, you would know what kind of an advisor he truly is and why you should avoid doing business with him:
Allegations on Brian Korienek
1. Allegations include Misrepresentation, Omission of Material Fact, Breach of Fiduciary Duty, etc. in regards to the Respondents: Pellegrino; Korienek, and Reppy’s recommendations to Claimants to purchase 1st Global Capital, LLC investment.
Basic details of this allegation
-Damage Amount Requested
$311,089.32
-Settlement Amount
$76,309.09
2. A customer filed a complaint alleging the following causes of action against the member firm that Brian Korienek worked for:
- Unsuitability
- failure to supervise
- legal system deception
- breaching of fiduciary obligations
- culpable failure to monitor
- Misconduct
The claims stem from the claimant’s assertion that her broker recommended a sizeable investment in 1 Global Capital, LLC (also known as 1st Global Capital), high-risk, unregistered security, despite the claimant’s low-risk tolerance, and that the claimant lost almost all of the money as a result of 1st Global Capital’s involvement in a significant securities fraud scheme.
Even though the Claimant was the business’s client and already had investments at the time the advice was made, Claimant also argued that the firm failed to monitor, approve, or approve the investment.
Basic details of this allegation
-Damage Amount Requested
$100,000.00
3. Allegations against Respondent Reppy by Claimants include the sale of a high-risk and fraudulent investment, misrepresentations and omissions of material facts, and unsuitable recommendations.
Basic details of this allegation
-Damage Amount Requested
$341,182.80
-Settlement Amount
$83,690.91
4. In 2016, the Claimant was induced to invest in 1st Global Notes by TCM RR Brian R. Korienek in violation of the anti-fraud provisions of the Illinois Securities Laws regarding the sale of unregistered securities.
Basic details of this allegation
-Damage Amount Requested
$200,000.00
-Settlement Amount
$11,783.86
What Brian Korienek Claims to Be:
Surprisingly, Brian Korienek fails to mention anywhere on his “About Me” pages that he scammed multiple clients by partnering with 1 Global Capital. Most of the media coverage on this financial scammer is paid PR done by his marketers to hide his criminal past.
As Vice president of Wealth Management for Goldstone Financial Group, Brian Korienek is a partner in the company. In addition to having earned his Series 7 and 66 licenses, Korienek is a fiduciary advisor who is licensed to sell life and health insurance in the state of Illinois.
He has appeared on Fox 32 Chicago and been heard on the radio program Protecting Your Financial Future on WLS 890AM. Korienek spent nearly nine years with Goldstone Financial Group as a Senior Associate Adviser before assuming his current position as Vice President of Wealth Management.
He previously had positions at McAdam Financial Group as a financial advisor and at the Chicago Board of Trade as an analyst for a company that deals in agricultural commodities before joining Goldstone Financial Group. Brian Korienek began his career in a position that involved numerical analysis in relation to commodities and pricing after receiving his Bachelor of Business Management from Depaul University.
Later on, he joined Goldstone Financial Group.
What Goldstone Financial Group of Brian Korienek Claims to Be:
This section contains the marketing claims made by the PR team of Brian Korienek. Hence, there might be some exaggerations here regarding his expertise.
Goldstone Financial Group is located at 18 W 140 Butterfield Rd 14th Floor, Oakbrook Terrace, IL 60181, the area is only a little ways from downtown Chicago and O’Hare and Halfway air terminals and simply moves back from the Oakbrook Center and Yorktown Retail outlet.
What is the Specialization of Goldstone Financial Group?
Due to the fact that Goldstone Financial Group is a professional company, its consultants maintain the highest standards of morality while providing clients with guidance. Instead of attempting to sell our customers a preset list of things, they are dedicated to using all available financial means to assist them in achieving their objectives.
Moreover, Goldstone has collaborated with a number of charitable groups to develop partnerships that enable us to help with vital local and international issues. The expertise of all of our advisors in risk management and wealth preservation further enables our clients to have peace of mind regarding the safety of their investments. I’m pleased to work for such a group and aid in people’s future planning.
What is Brian’s recommendation for anyone considering a career in financial advice?
First of all and importantly, he recommended his advisers to register in the relevant courses and earn the requisite credentials. In order to serve the clients to the highest level, it’s critical that we develop a complete understanding of the sector.
He also recommended that people work for a company like Goldstone Financial Group that holds its advisors to a rigorous level of ethics. Finally, he encouraged them to constantly emphasize the needs of their clients and to put their needs first. More than just crunching numbers, a financial advisor’s job involves fostering relationships and assisting clients in achieving their objectives. We will succeed if we can achieve that in a morally upright manner.
Q.1)Who is Brian Korienek?
Ans. Brian Korienek is a fiduciary advisor and holds the position of Vice President of Wealth Management at Goldstone Financial Group and a partner.
Q.2) What is the educational qualification of Brian Korienek?
Ans. He is a Bachelor of Business Management from Depaul University.
Q.3) What did he do after completing his studies in Management?
Ans. After completing his degree, Brian Korienek began working in a role that needed numerical analysis in relation to commodity pricing.
Q.4) Brian Korienek was charged with how many allegations?
Ans. Brian Korienek was charged with almost four allegations related to a customer dispute. These disputes include Misrepresentation, Omission of Material Fact, Breach of Fiduciary Duty, etc.
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