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Investor Claims Andrew Marschall Recommended an Unsuitable Non-Traded REIT

Feb 28, 2022 REITs

Andrew Marschall (CRD #:5922785), a broker and investment advisor registered with PNC Investments, is involved in an unsuitability dispute, according to his BrokerCheck record, accessed on February 16, 2022. 

Investor Allegations

On December 9, 2021, an investor filed a dispute alleging Andrew Marschall breached his fiduciary duty by recommending an unsuitable, non-traded REIT. Non-traded REITs are extremely risky investments and are not suitable for most investors. The total damage requested is $100,001一the dispute is still pending.

What are REITs?

A real estate investment trust (REIT) is an entity that holds a portfolio of income-producing real estate properties. A REIT could contain anything from office buildings and other commercial units to apartment buildings or healthcare facilities. By putting their money into a REIT, investors can own a share of those properties. REITs can be unsuitable due to their illiquid nature. Many REITs expect investors to keep their money in the investments for an extended period. REITs may also be unsuitable based on their underlying real estate investments.

If you lost money in unsuitable REITs, you might have a viable claim against your broker, and you should not hesitate to contact the securities attorneys of Kurta Law. 

Unsuitable Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

  • Investments can be unsuitable because they are high risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • 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.

Background Information

Andrew Marschall 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

Andrew Marschall is a registered broker in Maryland and New York. He is also a registered investment advisor in Maryland. 

Besides PNC Investments, Andrew Marschall has worked with the following firms:

  • Capitol Securities Management (CRD#:14169)
  • Morgan Stanley (CRD#:149777)  
  • Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)    
  • AXA Advisors (CRD#:6627)

Kurta Law Can Help

If you have worked with Andrew Marschall and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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.