Conrad Corcoran: Centaurus Advisor Faces Suitability Complaints

Anaheim, California financial Conrad Corcoran (CRD# 1009857) allegedly recommended unsuitable and high-risk investments, according to a recent investor complaint. Financial Industry Regulatory Authority records show that he is registered as a broker with Centaurus Financial, doing business as Catalina Investments.

Mr. Corcoran’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in September 2024, alleges that as a representative of Centaurus Financial, he failed to supervise and breached his fiduciary duty. The pending complaint alleges unspecified damages. “I was named solely as a result of my capacity as the Branch Manager of the Branch,” he writes in a statement included with the complaint’s disclosure. “I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. I will vigorously defend this matter to the fullest extent of the law.”

A second investor complaint, filed in September 2024, alleges that as a Centaurus Financial representative, he breached his fiduciary duty and “recommended unsuitable, complex, high-risk, illiquid investments.” The pending complaint alleges unspecified damages.

In a statement included with the complaint’s disclosure, Mr. Corcoran also denies the allegations. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after her review of all material documentation related to the investment,” he writes. “The customer confirmed in writing that they not only received the requisite investment documentation/disclosures, but that she fully understood the characteristics and risks of the investments.”

A third investor complaint, filed in 2020, alleged that as a Centaurus Financial representative, he recommended unsuitable real estate and variable annuity investments. The complaint reached a settlement of $125,000.

According to the Financial Industry Regulatory Authority, Conrad Corcoran holds 42 years of securities industry experience. Based in Anaheim, California, he has been registered as a broker with Centaurus Financial since 2001, doing business as Catalina Investments. His past registrations include FFP Securities, First Associated Securities Group, Consolidated Investment Services, Geneva Securities, Boucher Oehmke & Quinn, Wedbush Noble Cooke, and Prudential-Bache Securities. His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Combined State Law Examination, or Series 66. He is licensed in Arizona. (Information current as of November 4, 2024.)

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