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Investor Alleges Brian Donnelly Made Unsuitable Recommendation of Fixed Rate Annuity

May 31, 2022 Unsuitable Investments

Brian Donnelly (CRD #: 2845011), a broker registered with Robert W. Baird & Company, is involved in a pending dispute, according to his BrokerCheck record, accessed on May 22, 2022. Read on if you have questions about Brian Donnelly’s conduct as a broker.

Investor Dispute

A dispute filed on February 24, 2022, alleges that Brian Donnelly recommended his client purchase a fixed rate annuity and hold cash when the accounts were first opened in 1991, leading to losses. This dispute is pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider investors’ financial goals when recommending investments. Brokers must tailor their recommendations to the investor’s profile, which contains the following investor characteristics:

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

Investors can attempt to recover their losses caused by unsuitable investment recommendations through FINRA arbitration.

Background Information

Brian Donnelly 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 10 - General Securities Sales Supervisor - General Module Examination
  • Series 9 - General Securities Sales Supervisor - Options Module Examination

Brian Donnelly is a registered broker in 19 states and a registered investment adviser in Florida, Texas, and Wisconsin.

Kurta Law Can Help

If you worked with Brian Donnelly 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.