Christopher Schofield Embroiled in Pending Dispute

Christopher Schofield (CRD #: 2175959), a broker registered with Morgan Stanley, allegedly violated the suitability rule, according to his BrokerCheck record, accessed on March 8, 2023. Read on to learn more about his alleged conduct as a broker.

Investor Dispute

On December 13, 2022, an investor alleged that Christopher Schofield violated the suitability rule with regard to certain investments and a Liquidity Access Line from April 2018 to October 2020. The investor also made other, undisclosed allegations. They seek $130,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult an investor’s profile, which describes their tax status, risk tolerance, and overall financial situation.

• Investments can be unsuitable because they are high-risk and likely to result in losses.
• Illiquid securities may also be unsuitable because they are intended to be held for an extended time. Investors may have to pay high fees when they try to cash out early.
• Trading activity can also be quantitatively unsuitable, meaning that the broker executed an excessive number of trades.
• Investment strategies must also be suitable for the client. Overconcentration, for example, may be an unsuitable strategy for a client with a low risk tolerance.

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

Background Information

Christopher Schofield has passed the following exams:

• 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 9 – General Securities Sales Supervisor – Options Module Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination

Christopher Schofield is a registered broker in 45 states, the District of Columbia, and Puerto Rico. He is also a registered investment adviser in Colorado, Oklahoma, and Texas.

He has also worked for Citigroup Global Markets (CRD#:7059) and A. G. Edwards & Sons (CRD#:4).

Kurta Law Can Help

If you worked with Christopher Schofield 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.