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Annette Vigil Facing Allegations of Unsuitable Investments

Nov 16, 2021 Investor Disputes

Annette Vigil (CRD #: 2097289), a registered broker with Western International Securities, Inc, is facing allegations of unsuitable investment recommendations, according to her BrokerCheck record, accessed on October 27, 2021.  Keep reading for more details regarding the allegations.

Unsuitable Investment Allegations

On August 3, 2021, an investor alleged that Annette Vigil recommended unsuitable investments. 

The disclosure does not specify the nature of the unsuitable investments, but brokers are required to have a reasonable basis for recommending an investment according to FINRA Rule 2111.

FINRA Rule 2111

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 that 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.

Denied Disputes

The dispute was denied, but investors should know that they can still pursue FINRA arbitration and recover their losses following a denial.

Civil Lien

On June 3, 2014, Annette Vigil became the subject of a civil lien for $17,478.89.

Annette Vigil Background Information

Annette Vigil has passed the following exams:

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

Annette Vigil is a registered broker in three states — California, Maryland, and Nevada. 

Besides Western International Securities, Annette Vigil has worked with the following firm:

  • Baraban Securities, Inc. (CRD#:7659)

Kurta Law Can Help

If you have worked with Annette Vigil 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. Please contact us today if you would like us to evaluate your potential case.