Raymond James & Associates Fired Claire Friedrichs
Claire Friedrichs (CRD #: 2144703), a registered broker and investment advisor with Coker & Palmer, was recently fired by Raymond James & Associates, according to her BrokerCheck record, accessed on October 31, 2021.
On August 11, 2021, Raymond James & Associates fired Claire Friedrichs following allegations that she attempted to allocate shares from a trade error involving market losses to client accounts.
On June 20, 2012, an investor alleged that Claire Friedrichs recommended unsuitable investments. The investor sought $250,000; the dispute settled for $75,000. Recommending unsuitable investments is a violation of FINRA Rule 2111.
FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age.
- Investments can be unsuitable because they are high risk and likely to lose money.
- Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
- Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
- These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.
Claire Friedrichs Background Information
Claire Friedrichs 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
She is a registered broker and investment adviser in both Louisiana and Mississippi.
Besides Coker & Palmer, Claire Friedrichs has worked with:
- Raymond James & Associates (CRD#:705)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)
- Citigroup Global Markets (CRD#:7059)
- Howard, Weil, Labouisse, Friedrichs (CRD#:414)
Kurta Law Can Help
If you have worked with Claire Friedrichs and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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. Please contact us today if you would like us to evaluate your potential case.