Dale Anderson is Facing Allegations of Excessive Trades

Dale Anderson (CRD #1362249), a previously registered broker with Cambridge Investment Research, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on April 29, 2024. Keep reading if you have questions concerning his alleged conduct.

Investor Allegations 

On February 22, 2024, an investor alleged that Dale Anderson recommended an investment for the express purpose of generating high commissions and fees. 

FINRA Rule 2111 – Excessive Fees 

FINRA Rule 2111 requires brokers to recommend investments that suit their investor’s needs. They must take several factors into consideration, including their investor’s age, risk tolerance, and financial goals. Investments may also be unsuitable because they come with excessive fees, which unfairly take away from investor returns.

Failure to Diversify 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s risk tolerance. A lack of diversification may increase the portfolio’s exposure to risk because it overconcentrates an investor’s portfolio in the same stock or sector. 

Background Information 

Dale Anderson has passed the following exams:

• 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 

During his 35 years of experience, he has registered with five firms: 

• Cambridge Investment Research (CRD #: 39543) 
• Mutual Service Corporation (CRD #: 4806) 
• Jefferson Pilot Securities Corporation (CRD #: 3870) 
• Washington Square Securities (CRD #: 2882) 
• Reliastar Financial Marketing 

Kurta Law Can Help 

If you have worked with Dale Anderson and 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.