Angela Ostendarp Subject of Investor Dispute

Angela Ostendarp (CRD #: 2472036), a broker registered with LPL Financial, is involved in an investor dispute, according to her BrokerCheck record, accessed on October 31, 2024. Keep reading if you have questions about her alleged conduct as a broker.

Investor Disputes

On August 19, 2024, an investor named Angela Ostendarp in a dispute alleging negative performance in their accounts from December 1, 2021, to March 1, 2023. This dispute was denied by the firm.

However, investors can still seek out FINRA arbitration and potentially recover damages after a denial.

On July 22, 2015, an investor filed a dispute naming Angela Ostendarp in allegations of common law fraud, breach of contract, breach of the implied covenant of good faith and fair dealing, negligence, and violation of North Carolina General Statutes Sections 75 and 78A, and FINRA Rules 2111, 2110, and 3010.

The client sought $100,000 in damages and was awarded $73,784.34 in damages and $24,965.66 in attorneys’ fees. You can read the award summary here.

North Carolina General Statutes

North Carolina General Statutes Section 75 prohibits monopolies and establishes other consumer protections.

Section 78A is the North Carolina Securities Act, which prohibits fraudulent practices in the purchase and sale of securities.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile contains information about their investing experience, goals, and risk tolerance.

Some common violations of this rule include:

• Recommendations of unsuitable investments. These may be high-risk or illiquid investments that lead to losses or fail to meet an investor’s stated goals.
• Excessive trading, which violates the need for quantitative suitability. This means that overall trading activity must also suit an investor’s goals.
• Recommendations of unsuitable investment strategies. For instance, overconcentration, or failure to diversify, is typically unsuitable due to the degree of risk.

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

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations.

What are Blue Sky Laws?

Blue sky laws are state-level regulations that provide investors with another layer of protection against securities fraud. They typically also define which types of investments must register with the state securities board.

What is broker negligence?

Negligence covers a variety of broker misconduct, including unsuitable investment recommendations, unauthorized trading, and failure to supervise. Investors who believe their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration. 

Background Information

Angela Ostendarp 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

Angela Ostendarp is a registered broker in 29 states and the District of Columbia. She is also a registered investment adviser in North Carolina and Texas.

She has also worked for the following firms:

• Wells Fargo Clearing Services (CRD#:19616)
• Wachovia Securities (CRD#:431)
• Northwestern Mutual Investment Services (CRD#:2881)
• Robert W. Baird & Company (CRD#:8158)
• Wachovia Brokerage Service (CRD#:17503)

Kurta Law Can Help

If you worked with Angela Ostendarp 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 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.