Our firm is investigating Great Point Capital LLC financial advisor Joseph Kocsis (CRD# 2423884) of Chicago, Illinois for potential investment-related misconduct.
Financial Advisor’s Career History
According to his FINRA BrokerCheck report, Joseph Kocsis has been registered with Great Point Capital LLC in Chicago, Illinois since January 4, 2019. His prior securities industry registrations include:
- National Securities Corporation (New York, NY): 08/2013 – 01/2019
- Aegis Capital Corp. (New York, NY): 03/2010 – 06/2013
- GunnAllen Financial, Inc. (New York, NY): 06/2008 – 03/2010
- Joseph Gunnar & Co. LLC (New York, NY): 09/1998 – 05/2008
- First Asset Management, Inc. (Garden City, NY): 11/1993 – 08/1998
Joseph Kocsis Fraud Allegations and Investor Complaints Explained
FINRA BrokerCheck reflects two customer disputes reported for Joseph Kocsis. Both matters involve Section 1031 Exchange transactions and are reported as settled.
Disclosure summary (for context):
- Customer Dispute (FINRA Arb. No. 23-00095) — Allegations of unsuitable 1031 exchange replacement property recommendations, lack of reasonable basis, and alleged omissions/misstatements; settled (Settlement: $70,000.00; Individual contribution: $0.00).
- Customer Dispute (FINRA Arb. No. 22-02379) — Allegations of unsuitable 1031 exchange investments, risks not revealed, plus alleged lack of supervision and failure to perform due diligence; settled (Settlement: $582,723.97; Individual contribution: $0.00).
Customer Dispute 1: FINRA Arbitration No. 23-00095 (Settled)
This customer dispute concerns replacement property as part of a Section 1031 Exchange, with claimants alleging the investments were not suitable, that there was not a reasonable basis for the recommendation, and that there were omissions and misstatements of fact, among other claims (including misrepresentation and breach of contract). The alleged occurrences were in 2019 and 2020.
Key data points reported:
- Forum / Case #: FINRA, 23-00095
- Filing date: 01/11/2023
- Date complaint received: 02/08/2023
- Alleged damages: $250,000.00
- Status / status date: Settled; 10/31/2023
- Settlement amount: $70,000.00 (Individual contribution: $0.00)
- Notable detail: The report states that although Mr. Kocsis was not named in the claim, he was allegedly involved in the occurrences.
Customer Dispute 2: FINRA Arbitration No. 22-02379 (Settled)
This customer dispute also involves Section 1031 Exchanges, where claimants alleged certain investments were unsuitable, the risks were not revealed despite written disclosures, and asserted a lack of supervision and failure to perform due diligence by the broker-dealer. The occurrences were reported as 2019 and 2020.
Key data points reported:
- Forum / Case #: FINRA, 22-02379
- Filing date: 10/17/2022
- Date complaint received: 02/08/2023
- Alleged damages: Not specified (claimants asked arbitrators to determine damages using measures such as benefit-of-the-bargain, lost opportunity, model portfolio damages, investments and fees).
- Status / status date: Settled; 03/08/2024
- Settlement amount: $582,723.97 (Individual contribution: $0.00)
- Notable detail: The report states Mr. Kocsis was allegedly the registered representative involved and was not named as a respondent.
To obtain a copy of Joseph Kocsis’s FINRA BrokerCheck report, visit this link.
Robert Wayne Pearce Is Committed to Recovering Your Investment Losses
FINRA Rule 2111 (Suitability) is frequently implicated where customers allege that a recommended investment—such as a 1031 exchange replacement-property strategy—was not suitable for their objectives, financial situation, or risk tolerance. In the matters described above, claimants alleged the 1031 exchange investments were unsuitable and lacked a reasonable basis, which is the type of sales-practice allegation that is commonly analyzed through the lens of a suitability obligation.
FINRA Rule 3110 (Supervision) is relevant when allegations include inadequate oversight of recommendations or a failure by the broker-dealer to supervise transactions and associated persons. Here, at least one customer dispute expressly alleged a lack of supervision and a failure to perform due diligence by the broker-dealer in connection with 1031 exchange transactions.
FINRA Rule 2210 (Communications with the Public) can come into play when customers allege omissions, misstatements, or misrepresentation—because communications about an investment’s risks, features, and limitations must be fair and balanced and not misleading. In the disclosures summarized above, claimants alleged omissions and misstatements of fact and misrepresentation in connection with the 1031 exchange-related investments.
The Law Offices of Robert Wayne Pearce, P.A. is a nationally recognized securities law firm representing investors in FINRA arbitration and securities investment fraud cases on a contingency fee basis. Robert Wayne Pearce, the founding attorney, has more than 45 years of experience recovering millions for victims of broker fraud, negligence, and unsuitable recommendations. He previously defended major brokerage firms and now uses that insight to protect investors nationwide. To discuss your case directly with Mr. Pearce, call (800) 732-2889 or email pearce@rwpearce.com for a free consultation.
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