Investor Alleges Andrew Polis Recommended Unsuitable CDs
Andrew Polis (CRD #: 1257552), a broker registered with Wells Fargo Clearing Services, allegedly invested a client in unsuitable investment products, according to his BrokerCheck record, accessed on December 26, 2022. If you want to know more about his alleged conduct as a broker, keep reading.
Investor Dispute
On November 4, 2022, an investor alleged that Andrew Polis invested them in certificates of deposit that were longer-term than the client desired. This dispute is currently pending.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consult the investor’s profile, which contains the following characteristics:
- Age
- Financial goals
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
Investors who rely on their brokers for recommendations may be able to recoup their losses through FINRA arbitration.
Background Information
Andrew Polis 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
- Series 3 – National Commodity Futures Examination
- Series 5 – Interest Rate Options Examination
- Series 10 – General Securities Sales Supervisor – General Module Examination
- Series 9 – General Securities Sales Supervisor – Options Module Examination
Andrew Polis is a registered broker in 36 states and the District of Columbia. He is also a registered investment adviser in Pennsylvania and Texas.
He has also worked for Prudential Securities (CRD#:7471) and Drexel Burnham Lambert (CRD#:7323).
Kurta Law Can Help
If you worked with Andrew Polis 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.