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Andrew Hall Involved in Investor Dispute Alleging Unsuitability

Feb 8, 2022 Investor Disputes

Andrew Hall (CRD #: 6133048), a broker and investment advisor registered with  Edward Jones, is involved in an investor dispute according to his BrokerCheck record, accessed on January 10, 2022.  

Investor Allegations 

On October 28, 2021, a dispute was filed against Andrew Hall alleging that he purchased unsuitable municipal bonds, certificates of deposit, and a real estate investment trust (REIT) in 2013 and 2014. The investor is seeking $100,000the dispute is still pending.  

This is not Andrew Hall’s first investor dispute alleging unsuitability. On September 12, 2019, an investor alleged that Andrew Hall misrepresented unsuitable investments. The case settled for $22,000. 

What is Unsuitability? 

"Unsuitability" is a term used to describe recommendations and trades that are inconsistent with the customer's goals and investment profile. 

Under FINRA Rule 2111, a customer's investment profile includes the customer's: 

  • Age 
  • Financial situation and needs 
  • Tax status 
  • Investment objectives 
  • Investment experience 
  • Risk tolerance. 

Brokers should take into account any risk tolerances or goals the person has expressed before making recommendations, and take note if those preferences change over time.  

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

What is Misrepresentation? 

Misrepresentation is a common problem in the securities industry. It usually occurs when an investment broker makes false or misleading statements about a financial product in an effort to persuade their customer to invest.  

Did you know that any of the following can be considered misrepresentation or omission? 

  • Inadequate due diligence concerning security offerings 
  • Failure to disclose all material risks 
  • Failure to disclose all transaction costs 
  • Unrealistic presumptions for investment projections 
  • Inaccurate investment performance calculation 
  • Misrepresentations and omissions concerning material facts in investment recommendations deprive investors of the information they need to assess risks associated with a particular investment. FINRA Rule 2020 prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. This unethical conduct also violates FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.  

Losses that can be attributed to a stockbroker's material misrepresentations of facts may result in a viable securities arbitration claim for damages. 

Background Information 

Andrew Hall has passed the following exams: 

  • Series 66 - Uniform Combined State Law Examination 
  • Series 63 - Uniform Securities Agent State Law Examination 
  • SIE - Securities Industry Essentials Examination 
  • Series 7 - General Securities Representative Examination 

He is a registered broker in 13 states and is a registered investment adviser in South Carolina.  

Andrew Hall has also worked with the following firms: 

  • Centaurus Financial (CRD#:30833) 
  • J.P. Turner & Company (CRD#:43177) 

Kurta Law Can Help 

If you have worked with Andrew Hall and have concerns about your investments, don't hesitate to 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.