Alan Kasser Allegedly Recommended an Unsuitable REIT
Alan Kasser (CRD #: 1212756), a broker registered with J.W. Cole, is facing a dispute involving a Real Estate Investment Trust (REIT), according to his BrokerCheck record, accessed on October 19, 2021. This is not the only disclosure on his record – concerned investors should keep reading and contact a securities lawyer if they believe Alan Kasser may have recommended unsuitable investments for their portfolio.
On August 2, 2021, investors alleged that Alan Kasser recommended unsuitable REITS. REITs can be unsuitable due to their illiquid nature. Many REITs expect investors to keep their money in the investments for an extended period. REITs may also be unsuitable based on their underlying real estate investments. The investor is seeking $75,000; the dispute is pending.
FINRA Rule 2111
Unsuitable investments are a common cause for investor complaints and FINRA arbitration awards. FINRA Rule 2111 prohibits brokers from recommending investments that do not fit their investor’s needs. Suitable investments take the investor’s financial goals, risk tolerance, age, and investing experience into consideration. They should also account for the investment time horizon, i.e., the amount of time the investor expects to hold their investment.
Employment Termination
On December 12, 2006, First Investors Corporation fired Alan Kasser following an internal review. First Investors Corporation alleged that they commenced a review of Alan Kasser’s activities after they became aware of allegations that he had:
- Obtained a cash advance from FIC under false pretenses and caused FIC’s commission and customer records to indicate that another representative earned a commission on a client’s account when the two brokers had agreed that the representative would give the commission to Alan Kasser.
- Alan Kasser allegedly obtained a loan from a representative under his supervision without replaying the loan.
Alan Kasser Background Information
Alan Kasser has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
- Series 51 Municipal Fund Securities Principal Examination
- Series 24 General Securities Principal Examination
- Series 26 Investment Company Products/ Variable Contracts Principal Examination
He is a registered broker in eight states and is a registered investment adviser in Texas.
Alan Kasser has worked with the following firms:
- W. Cole Financial (CRD #: 124583)
- W. Cole Advisors (CRD #: 112294)
- Financial Advisers of America (CRD #: 142170)
- MML Investors Services (CRD #: 10409)
- First Investors Corporation (CRD #: 305)
Kurta Law Can Help
If you lost money while working with Alan Kasser, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.