Adam Michael Chustz (CRD #4129813) Has Customer Dispute Disclosures on FINRA BrokerCheck
Adam Michael Chustz (CRD #4129813) is a broker with customer disputes on FINRA BrokerCheck. We reviewed his BrokerCheck report on January 29, 2026. It reflects five customer disputes. If you invested with Adam Chustz and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Investor Disputes / Customer Complaints
Adam Chustz’s FINRA BrokerCheck report reflects five customer dispute disclosures. All five are listed as pending. We summarize two examples below. BrokerCheck lists three additional pending customer disputes in this category.
On October 31, 2025, a customer alleged Adam Chustz made misrepresentations or omissions involving mutual funds. The claim also alleged breach of contract, negligence, and failure to supervise. The customer sought $100,000 in alleged damages. Adam Chustz’s FINRA BrokerCheck report lists the dispute as pending in FINRA arbitration.
On October 6, 2025, a customer alleged Adam Chustz breached contract and fiduciary duties involving mutual funds. The claim also alleged misrepresentations or omissions and negligence. The customer sought $200,000 in alleged damages. Adam Chustz’s FINRA BrokerCheck report lists the dispute as pending in FINRA arbitration.
Rule Summary #1: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 (Suitability) requires a broker to have a reasonable basis for recommendations. It also expects recommendations to match the customer’s profile, including risk tolerance and time horizon. Complaints about mutual funds can raise questions about whether the investments fit those factors.
Rule Summary #2: FINRA Rule 3110 (Supervision)
FINRA Rule 3110 (Supervision) requires member firms to maintain a supervisory system. That system should be reasonably designed to achieve compliance with securities laws and FINRA rules. When disputes include “failure to supervise” allegations, investors often focus on what controls were in place.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.
Reg BI has four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
- Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
- Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
- Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.
Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.
Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on His FINRA BrokerCheck report, Adam Chustz:
Is currently registered with Stifel, Nicolaus & Company, Incorporated.
Has passed the Securities Industry Essentials (SIE) exam. Adam Chustz has passed Series 7 and Series 24. He has also passed Series 66 and Series 63.
Was previously registered with Edward Jones.
Kurta Law Can Help
If you have worked with Adam Chustz and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.
Helpful resources: Unsuitable Investments | Securities Attorney
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.