Al Adan Allegedly Recommended Unsuitable Investments

Al Adan (CRD #: 5471160), a broker registered with Edward Jones, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on November 6, 2023. Keep reading if you have questions about alleged conduct. 

On August 10, 2023, an authorized party on an investor’s account alleged that Al Adan made unsuitable recommendations for a now-deceased client. The investments were allegedly unsuitable given the investor’s age and aversion to risk. The investor sought $85,000 but the dispute was denied by the firm. 

The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Al Adan has passed the following exams: 

• Series 66 Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 18 states and is a registered investment adviser in Texas and Washington. 

Al Adan has only registered with Edward Jones (CRD #: 250) during his 15 years of experience. 

Kurta Law Can Help

If you worked with Al Adan and have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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 that 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.