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Investor Alleges Aramis Guerin Engaged in Excessive and Unauthorized Trading

May 4, 2023 Excessive Trading

Aramis Guerin (CRD #: 6868992), a broker registered with PHX Financial, is the subject of a pending dispute, according to his BrokerCheck record, accessed on April 25, 2023. Read on if you want to know more about his alleged conduct as a broker.

Investor Dispute

In a dispute filed on March 3, 2023, an investor alleged that Aramis Guerin executed unauthorized and excessive trades, engaged in negligence, and made unspecified violations of the suitability rule. The client seeks $115,011 in damages in this pending dispute.

FINRA Rule 3260

Unauthorized trading violates FINRA Rule 3260, which restricts brokers from exercising their trading discretion beyond pre-approved discretionary accounts. Both the firm and client must provide approval before discretionary trading can occur.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles, which contain information about clients’ age, tax status, and financial goals.

Trading activity can also be quantitatively unsuitable, meaning that the broker executed an excessive number of trades, racking up trading fees and commissions that reduce the client’s returns.

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

What qualifies as broker negligence?

Brokers may act in many negligent ways, including by recommending unsuitable investments, misrepresenting material facts, or failing to supervise other brokers.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by seeking out FINRA arbitration

Background Information

Aramis Guerin has passed the following exams:

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

Aramis Guerin is a registered broker in 18 states.

He has also worked for the following firms:

  • SW Financial (CRD#:145012)
  • Worden Capital Management (CRD#:148366)
  • National Securities Corporation (CRD#:7569)

Kurta Law Can Help

If you worked with Aramis Guerin and you have concerns about your investments, please contact us today at 877-600-0098 or 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.