Brian Scott Rimel (CRD #2072727) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Brian Scott Rimel (CRD #2072727) is a broker with a customer dispute on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 18, 2026. It reflects one customer dispute. If you invested with Brian Scott Rimel and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Brian Rimel’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On January 13, 2026, a customer alleged Brian Rimel improperly refused to purchase a low-priced security for UTMA accounts and recommended an unsuitable money market fund. The customer sought $108,149.15 in damages. Brian Rimel’s FINRA BrokerCheck report lists the products as miscellaneous investments and listed equity securities. The matter settled on February 2, 2026, for $20,000. Rimel stated he believed the penny stock was high risk and unsuitable for UTMA funds. He also said the money market fund was meant to preserve capital and liquidity while earning more interest.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a broker to have a reasonable basis for a recommendation. A dispute over a money market recommendation can raise questions about whether the product fit the customer’s needs, risk tolerance, and objectives.

Rule Summary #2: FINRA Rule 2090 (Know Your Customer)

FINRA Rule 2090 requires firms to use reasonable diligence to know the essential facts about each customer and the authority of anyone acting for the account. That matters in UTMA accounts because the broker must understand the account structure and customer circumstances before making or refusing recommendations.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on his FINRA BrokerCheck report, Brian Rimel:

Is currently registered with Raymond James Financial Services, Inc. and Raymond James Financial Services Advisors, Inc.

Has passed the Securities Industry Essentials (SIE) exam. Brian Rimel has also passed Series 7, Series 65, and Series 63.

Was previously registered with Raymond James & Associates, Inc.

Kurta Law Can Help

If you have worked with Brian Rimel and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | What Is Securities Fraud?

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.