Investor Alleges Alison McGowan Made Unsuitable Investment Recommendations

Alison McGowan (CRD #: 1306188), a broker registered with Wells Fargo Clearing Services, was involved in a recent dispute, according to her BrokerCheck record, accessed on September 26, 2022. If you want to know about Alison McGowan’s conduct as a broker, read on.

Investor Dispute

On August 1, 2022, an investor filed a dispute alleging that Alison McGowan recommended unsuitable investments, resulting in losses, between May 25, 2021, and the date of filing. This dispute was denied by the firm.

However, investors should know that firms can deny disputes without an external review. Investors may be able to recover their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must use the information in an investor’s profile, such as their risk tolerance, age, and other investments when making recommendations.

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

Background Information

Alison McGowan has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Alison McGowan is a registered broker in 24 states and a registered investment adviser in New York.

She has also worked for A. G. Edwards & Sons (CRD#:4) and David Lerner Associates (CRD#:5397).

Kurta Law Can Help

If you worked with Alison McGowan 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.