Charles Fagan Allegedly Gave Unsuitable Investment Recommendations

Charles Fagan (CRD #: 5040887), a broker registered with Raymond James & Associates, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on June 20, 2023. Keep reading if you have questions about his alleged conduct as a broker.

Investor Disputes

On April 26, 2023, an investor alleged that Charles Fagan made unsuitable investment recommendations between January 25, 2021, and March 15, 2023. The client sought $303,289.50 in damages but the dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. Investors can still pursue FINRA arbitration following a denial and may be able to recover their funds.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their age, tax status, and risk tolerance when recommending investments.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

Background Information

Charles Fagan has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Charles Fagan is a registered broker in 21 states and the District of Columbia. He is also a registered investment adviser in Missouri and Texas.

He has also worked for Wells Fargo Advisors (CRD#:19616) and A. G. Edwards & Sons (CRD#:4).

Kurta Law Can Help

If you worked with Charles Fagan 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.