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Investor Alleges Adam Topalian Purchased Unsuitable Investments

Apr 28, 2023 Unsuitable Investments

Adam Topalian (CRD #: 1104727), a broker registered with Stifel, Nicolaus & Company, was recently involved in an investor dispute, according to his BrokerCheck record, accessed on April 21, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On March 13, 2023, an investor alleged that Adam Topalian purchased unsuitable preferred shares on December 14, 2022, that were not appropriate given the client’s risk tolerance. This dispute was denied by the firm.

However, investors should know that firms don’t need to permit an external review before denying a dispute. Investors can still pursue FINRA arbitration following a denial and may be able to recoup their losses.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes characteristics such as their risk tolerance, age, and tax status.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

Adam Topalian has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 52TO – Municipal Securities Representative Examination
  • SIE – Securities Industry Essentials Examination
  • Series 50 – Municipal Advisor Representative Qualification Exam
  • Series 16 – NYSE Supervisory Analyst Examination
  • Series 3 – National Commodity Futures Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination
  • Series 53 – Municipal Securities Principal Examination

Adam Topalian is a registered broker in 19 states and the Virgin Islands. He is also a registered investment adviser in Connecticut, New York, Pennsylvania, and Texas.

He has also worked for the following firms:

  • Barclays Capital (CRD#:19714)
  • Lehman Brothers (CRD#:7506)
  • Morgan Stanley DW (CRD#:7556)
  • Morgan Stanley & Company (CRD#:8209)
  • Morgan Stanley Market Products (CRD#:19794)
  • Smith Barney Shearson (CRD#:7059)
  • Samuel A. Ramirez & Company (CRD#:6963)

Kurta Law Can Help

If you worked with Adam Topalian and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.