Investor Seeks $2.3 Million in Dispute with Alan Mann

Alan Mann (CRD #: 1827683), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly executed unauthorized trades, according to his BrokerCheck record, accessed on January 14, 2025. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On November 27, 2024, an investor alleged that Alan Mann executed unauthorized trades, made misrepresentations, gave unsuitable investment recommendations, and failed to act in the client’s best interest in July 2020.

The client seeks $2,377,594 in damages in this pending dispute.

FINRA Rule 3260

FINRA Rule 3260 forbids brokers from conducting discretionary trading outside of accounts approved for discretionary trading by their client and firm.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, and other fraudulent means of influencing investors’ decisions. Misrepresenting an investment’s risks, fees, or other features violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account an investor’s tax status, age, risk tolerance, and other information described in their profile.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Alan Mann has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 3 – National Commodity Futures Examination
• Series 7 – General Securities Representative Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

Alan Mann is a registered broker in 37 states and the District of Columbia. He is also a registered investment adviser in Nevada and Texas.

He has also worked for the following firms:

• Morgan Stanley Smith Barney (CRD#:149777)
• Morgan Stanley & Company (CRD#:8209)
• Morgan Stanley (CRD#:7556)

Kurta Law Can Help

If you worked with Alan Mann and you 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 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.