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Daniel Fradette Allegedly Did Not Disclose Tax Consequences of Securities Transactions

Daniel Fradette (CRD #: 6000183), a broker registered with Citizens Securities, is involved in a new investor dispute, according to his BrokerCheck record, accessed on June 23, 2022.

On April 8, 2022, an investor alleged that Daniel Fradette initiated sells rather than exchanges, which the investor claims resulted in high tax consequences. The investor claims that these tax consequences were not disclosed. The investor is seeking $50,000 in this denied dispute. Investors should know that they can still recover losses following a denial.

FINRA Rule 2020: Misrepresentation and Omissions

FINRA Rule 2020 prohibits brokers from omitting material information about their investment, including tax consequences. It also prohibits misrepresentations and any deceptive or manipulative devices.

Background Information

Daniel Fradette has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination

He is a registered investment adviser and broker in Florida, Illinois, and Michigan.

Daniel Fradette has registered with the following firms:

  • Citizens Securities (CRD #: 39550)
  • Huntington Financial Advisors (CRD #: 16986)
  • The Huntington Investment Company (CRD #: 16986)
  • Edward Jones (CRD #: 250)

Kurta Law Can Help

If you worked with Daniel Fradette 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. 

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