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Did Carl Marsh Fail to Act in His Customer’s Best Interest?

Apr 29, 2022 Investor Disputes

Carl Marsh (CRD #: 5750886), a broker and investment advisor registered with LPL Financial, was the subject of an unsuitability dispute, according to his BrokerCheck record, accessed on April 16, 2022. 

According to the allegations filed on February 1, 2022, Carl Marsh recommended withdrawals from his customer’s annuities that were not in her best interests and resulted in taxation and other costs. However, the firm denied the dispute. 

Denials simply mean the brokerage firm denies that their broker engaged in misconduct—they do not indicate a third-party review of the dispute. 

Investors should know that they can still recover their losses following a denial. Speak to a securities lawyer if you have questions about what steps to take next. 

FINRA Rule 2111

Both financial advisors and broker-dealers have a suitability requirement, which requires them to provide investment recommendations that are consistent with the customer's best interests.

According to FINRA Rule 2111, the customer's investment profile includes, but is not limited to, the customer's age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity requirements, and risk tolerance.

Brokers may be liable for investor unsuitability claims if they fail to take the factors listed above into account. A broker must have exercised due diligence and have an adequate reason for believing that an investment will be suitable or beneficial for the investor.  

Make sure you are not being taken advantage of by contacting the securities attorneys at Kurta Law as soon as possible if you believe you lost funds due to unsuitable investment recommendations. 

Background Information

Carl Marsh 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

He is a registered broker in 12 states and is a registered investment advisor in Maine and Texas.

Besides  LPL Financial, Carl Marsh has not worked with any other firm

Kurta Law Can Help

If you have worked with Carl Marsh and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com 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.