Chris Kirkland Subject of Two Six-Figure Investor Dispute

Chris Kirkland (CRD #: 5602044), a broker registered with Avantax Investment Services, is the subject of two suitability disputes. You can read about these disclosures on his BrokerCheck record, accessed on October 20, 2023. Keep reading for more details. 

On August 31, 2023, investors alleged that Chris Kirkland recommended unsuitable investments. The investors are seeking $585,000. 

On August 22, 2023, an investor alleged that Chris Kirkland made purchases in her account that were unsuitable and/or unauthorized. The investor is seeking $392,914.69. 

What is Unauthorized Trading? 

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. Discretionary accounts must also be approved by the firm before this trading can occur. Unauthorized trades are discretionary trades that take place in non-discretionary accounts. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Chris Kirkland 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 

He is a registered broker in 33 states and is a registered investment adviser in Georgia. 

Chris Kirkland has registered with six firms in his 14 years of experience: 

• Avantax Investment Services (CRD #: 13686) 
• Avantax Advisory Services (CRD #: 104556) 
• LPL Financial (CRD #: 6413) 
• IFG Advisory (CRD #: 168012)
• Legacy Capital Advisors (CRD #: 168728)
• Ameriprise Financial Services (CRD #: 6363)  

Kurta Law Can Help

If you worked with Chris Kirkland and 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 that 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.