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Chris Wright Allegedly Gave Unsuitable Investment Recommendation

Aug 12, 2022 Unsuitable Investments

Chris Wright (CRD #: 4134973), a broker registered with Center Street Securities, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on July 24, 2022. Investors may also have worked with Chris Wright through Wright Wealth Management Group. Keep reading to learn more about his conduct as a broker.

Investor Disputes

On June 8, 2022, an investor alleged that Chris Wright made an unsuitable investment recommendation. The client seeks $135,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. When making recommendations, brokers must examine the characteristics contained in their client’s profile, including the following:

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

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

Annuity Dispute

In a dispute filed on April 28, 2020, a client alleged that, in 2017, Chris Wright rolled one annuity into another, restarting the surrender period. The investor further alleged that this went against his wishes, as he did not want more annuities. The client sought $197,000 and received an undisclosed settlement.

Background Information

Chris Wright 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
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Chris Wright is a registered broker in 17 states and a registered investment adviser in Arizona and Texas.

He has also worked for the following firms:

  • Multi-Financial Securities (CRD#:10299)
  • Linsco/Private Ledger Corporation (CRD#:6413)
  • H.D. Vest Investment Services (CRD#:13686)

Kurta Law Can Help

If you worked with Chris Wright 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.