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Mark Sam Kolta (Mark Kolta) is the owner of the Kolta Group and has been a registered broker with Worden Capital Management since 2018. According to FINRA’s BrokerCheck, in March 2020, he was the subject of 15 disclosures, including Customer Disputes and Employment Separation After Allegations. Peiffer Wolf filed another customer dispute on behalf of investors in July 2020 for unsuitable recommendations and overconcentration. Since Peiffer Wolf began its investigation into Kolta, he has been able to expunge 4 disclosures from his BrokerCheck report. Currently, he has 12 disclosures on his BrokerCheck report.
Peiffer Wolf Carr Kane & Conway is currently investigating additional claims against Mark Kolta of Worden Capital Management. Peiffer Wolf filed a claim on behalf of one of Kolta’s investors in July 2020. Like the many customer complaints disclosed in his BrokerCheck report, this customer dispute involves Variable Annuities and REITs.
According to FINRA’s BrokerCheck website for Public Disclosures, Mark Kolta currently has 12 disclosures on his BrokerCheck report. Some of the more notable disclosures are as follows:
- July 2020 – Customer Dispute – Pending. Allegations include “unsuitable recommendations and over concentrated their account in annuities and alternative investments”
- August 2019 – Customer Dispute – Pending. Allegations include breach of fiduciary duty, negligence, breach of contract, and fraud.
- April 2019 – Customer Dispute – Pending. Allegations: “Unsuitable recommendations, breach of fiduciary duty, negligence.”
- February 2019 – Customer Dispute – Pending. Allegations: “Unsuitable investment recommendations, Breach of contract, Breach of fiduciary duty, negligence.”
- February 2019 – Customer Dispute – Settled for $20,000. Allegations: “breach of fiduciary duty, breach of contract, fraud, misrepresentation and unauthorized trading.”
- October 2018 – Customer Dispute – Settled for $250,000. Allegations: “Misrepresentation, negligence, breach of fiduciary duty, and breach of contract.”
- June 2018 – Customer Dispute – Settled for $80,000. Allegations: “Misrepresentations, unsuitable recommendations, breach of fiduciary duty, breach of contract and negligence.”
- November 2011 – Employment Separation After Allegations. Discharged by Chase Investment Services Corp. Allegations: “Registered rep advised customers of another brokerage firm in the trading of options during his employment with the fir without the firm’s knowledge or permission.”
To review Mark Kolta’s Broker Check report, click here:
https://brokercheck.finra.org/individual/summary/5324620
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Brokercheck®️ report
Information about this broker was obtained from FINRA’s BrokerCheck on August 20, 2020. You should always review the broker’s BrokerCheck report for updated information. If you believe some of the content on this page does not reflect the report, contact us.
Mark Kolta Client?
Financial advisors (brokers) have a legal obligation and regulatory obligation to recommend only suitable investments that are appropriate for their individual clients. Their broker-dealer (employing brokerage firm) has a legal obligation and regulatory obligation to supervise the financial advisor’s sales practices and dealings with clients. To the extent that any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
Prior to Worden Capital Management, Mark Kolta had been registered with Aegis Capital Corp., National Securities Corporation, Cetera Advisors, Chase Investment Services Corp., and Merrill Lynch. FINRA maintains a database of investor complaints and disciplinary and employment history for registered representatives and publishes some of this information on its BrokerCheck website, www.brokercheck.finra.org.
FREE Consultation | 585-310-5140
If you believe you were a victim of investment fraud or broker misconduct, it is imperative to take action. Peiffer Wolf has represented thousands of victims, and we remain committed to fighting on behalf of investors.
Peiffer Wolf is currently investigating Mark Kolta’s practices, as well as the products he recommended to individual investors. Concerns about possible broker misconduct and investment fraud are serious, and we are committed to fighting on behalf of investors. Contact Us Today for a FREE Consultation. 585-310-5140
