Andrea Klipfel Subject of a Mutual Fund Dispute

Andrea Klipfel (CRD #: 4618630), a broker registered with Grove Point Investments, is the subject of a dispute filed by a successor trustee. This disclosure appears on her BrokerCheck record, accessed on September 26, 2023. Investors who have questions regarding her alleged conduct should keep reading. 

On July 12, 2023, a successor trustee of a deceased investor alleged that Andrew Klipfel violated Regulation Best Interest and liquidated a conservative, low-risk portfolio to purchase highly speculative, risky mutual funds with high front-end sales charges. 

What is a Mutual Fund? 

A mutual fund is a portfolio of investments that allows investors to pool their wealth. They can be passively or actively managed. Brokers may earn a large commission from these funds, making them frequent objects of fraudulent trading practices. 

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 

Andrea Klipfel 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 7 General Securities Representative Examination 

She is registered as a broker in 22 states and is a registered investment adviser in California. 

During her 20 years of experience, Andrea Klipfel has registered with the following firms: 

• Grove Point Investments (CRD #: 1763) 
• Grove Point Advisors (CRD #: 313171) 
• Independent Financial Group (CRD #: 7717) 
• LPL Financial (CRD #: 6413) 
• Wells Fargo Advisors (CRD #: 11025) 
• Edward Jones (CRD #: 250) 
• Merril Lynch (CRD #: 7691) 

Kurta Law Can Help

If you worked with Andrea Klipfel 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.