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Investor Alleges Armen Doyan Recommended Unsuitable Corporate Bond

May 20, 2022 Unsuitable Investments

Armen Doyan (CRD #: 6637258), a broker registered with Morgan Stanley, is alleged to have made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on May 15, 2022. If you have questions about Armen Doyan’s conduct as a broker, keep reading.

Investor Dispute

On March 5, 2022, an investor alleged that Armen Doyan recommended the purchase of an unsuitable corporate bond in September 2021. This dispute was denied by the firm.

However, investors should be aware that firms don't need to permit an external review before denying a dispute. Denied disputes can still be brought to FINRA arbitration, and investors may still be able to recover their losses.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as those that fit an investor's profile. Brokers must take into account the investor characteristics described in these profiles, such as the following: 

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors can recover losses caused by unsuitable investments by pursuing FINRA arbitration.

Background Information

Armen Doyan has passed the following exams:

  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 7 - General Securities Representative Examination

Armen Doyan is a registered broker in 42 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

Kurta Law Can Help

If you worked with Armen Doyan 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.