Brian Turner Involved in Dispute Alleging Unsuitable Investment Recommendation
Brian Turner (CRD #: 5453135), a broker and investment advisor registered with Wells Fargo Clearing Services, is facing a pending dispute, according to his BrokerCheck record, accessed on March 1, 2022.
According to the allegations filed on November 22, 2021, Brian Turner recommended unsuitable stocks in December 2020.
Unsuitable Investment Recommendations Violate 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 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.
Brian Turner has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 – Futures Managed Funds Examination
- Series 7 – General Securities Representative Examination
Brian Turner is a registered broker in 22 states. He is also a registered investment advisor in Texas, Maryland and the District of Columbia
Besides Wells Fargo Clearing Services, Brian Turner has also worked with UBS Financial Services (CRD#:8174).
Kurta Law Can Help
If you have worked with Brian Turner and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org 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.