Cynthia Smith Allegedly Recommended an Unsuitable Investment Strategy

Cynthia Smith (CRD #: 2386038), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on October 7, 2024. Keep reading if you have questions concerning her alleged conduct. 

Investor Allegations 

On September 4, 2024, an investor alleged that Cynthia Smith recommended an unsuitable investment strategy. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. 

Rule 2111 also requires brokers to consider 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

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information

Cynthia Smith 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 31 Futures Managed Funds Examination 
• Series 7 General Securities Representative Examination
• Series 6 Investment Company Products/ Variable Contracts Representative Examination 

She is registered in 50 states, D.C., the Virgin Islands, and Puerto Rico. She is a registered investment adviser in Florida and Texas. 

Cynthia Smith has registered with the following firms: 

• Merrill Lynch, Pierce, Fenner, & Smith (CRD #: 7691)
• First Union Securities (CRD #: 19616)  
• First Union Brokerage Services (CRD #: 8112) 
• GNA Securities (CRD #: 10465) 

Kurta Law Can Help 

If you worked with Cynthia Smith and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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 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. Do not let securities fraud go unchecked. Start your recovery process today.