Investor Seeks $1 Million in Dispute with Cary Urich

Cary Urich (CRD #: 2132001), a broker registered with United Planners’ Financial Services of America, allegedly committed several FINRA violations, according to his BrokerCheck record, accessed on October 15, 2022. Keep reading if you have questions about his conduct as a broker.

Investor Dispute

On July 11, 2022, an investor filed a dispute alleging Cary Urich committed the following violations:

• Violation of the suitability rule
• Breach of common law
• Material misrepresentations and omissions
• Self-dealing and “wrongful acts”
• Breach of the obligation toward good faith and fair dealing
• Violation of FINRA Rule 2111 and FINRA Rule 3270

The investor seeks $1 million in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to consider whether an investment suits their investor’s financial goals. Brokers must use the information in an investor’s profile, including their age, risk tolerance, and other investments when making investment recommendations.

The requirement for suitability also applies to investment strategies and overall trading activity. Excessive trading, for example, violates the need for quantitative suitability.

Under this rule, brokers also have an implicit obligation towards fair dealing in their interactions with clients.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deception, manipulation, or other fraudulent tactics to influence investors’ decisions. Misrepresenting or omitting information about investments violates this rule.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to provide their firm with written notice before they engage in any outside business activities and receive approval for these activities.

Background Information

Cary Urich 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 4 – Registered Options Principal Examination
• Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

Cary Urich is a registered broker in 15 states and a registered investment adviser in South Carolina.=

He has also worked for the following firms:

• H. Beck (CRD#:1763)
• Raymond James Financial Services Advisors (CRD#:149018)
• Raymond James Financial Services (CRD#:6694)
• J.J.B. Hilliard, W.L. Lyons (CRD#:453)
• Quick & Reilly (CRD#:11217)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Cary Urich 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.