Alfredo Yanes: Did He Recommend Unsuitable Investments?
Alfredo Yanes (CRD #: 2517311), a former broker previously registered with Western International Securities, is involved in an investor dispute, according to his BrokerCheck record, accessed on September 29, 2021. He is currently a registered investment adviser with ActiTrust Wealth Management.
On July 8, 2021, a broker alleged that Alfredo Yanes recommended an unsuitable investment. Unsuitable investment allegations are some of the most common investor complaints that lead to FINRA arbitration.
FINRA Rule 2111 defines suitability as investments that fit an investor’s risk tolerance, investment time horizon, financial goals, investing experience, and age. Brokers have access to this information through the investor’s profile.
- Investments can be unsuitable because they are high risk and are likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended period of time and investors may have to pay high fees to cash out.
- Securities must also be quantitatively suitable, meaning the number of trades should be suitable for the investor and not incur unnecessary commissions and fees.
- These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.
Alfredo Yanes Background Information
Alfredo Yanes has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities State Law Examination
- Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
Alfredo Yanes has worked with the following firms:
- Western International Securities (CRD #: 39262)
- Suntrust Investment Services (CRD #: 17499)
- Barnett Investments (CRD #: 14897)
- Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691)
Kurta Law Can Help
If you worked with Alfredo Yanes and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email firstname.lastname@example.org.