Daniel Malcolm Makin (CRD #4367894) Has Customer Dispute Disclosures on FINRA BrokerCheck

Daniel Malcolm Makin (CRD #4367894) was previously registered as a broker and has two customer dispute disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on April 23, 2026. It reflects two customer disputes. If you invested with Daniel Malcolm Makin and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Daniel Makin’s FINRA BrokerCheck Report reflects two customer dispute disclosures. A summary of the disputes is below:

On February 24, 2026, a customer alleged Daniel Makin did not provide relevant information about an inherited variable annuity. Daniel Makin’s FINRA BrokerCheck says the activity period ran from February 19, 2021, through February 20, 2026. BrokerCheck lists alleged damages of $50,000 and identifies the product as an annuity-variable. Raymond James Financial Services, Inc. denied the complaint on April 1, 2026.

On February 19, 2016, a customer alleged Daniel Makin failed to follow instructions to reduce stock-market holdings by 50% after a meeting on October 22, 2015. Daniel Makin’s FINRA BrokerCheck lists the products as a variable annuity, mutual fund, and other investments including EFT and collateralized mortgage obligations. BrokerCheck shows the complaint was denied on May 12, 2016. Makin stated he denied the allegations and said the firm found no evidence that he failed to follow trading instructions.

Rule Summary #1: FINRA Rule 2330 (Deferred Variable Annuities)

FINRA Rule 2330 applies to recommended purchases and exchanges of deferred variable annuities. It requires reasonable efforts to inform customers about features such as surrender charges, fees, costs, and market risk.

Rule Summary #2: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 requires a recommendation to fit the customer’s investment profile. Disputes like these can raise questions about liquidity needs, risk tolerance, time horizon, and how the recommendation was explained.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on Daniel Makin’s FINRA BrokerCheck report:

BrokerCheck states Daniel Makin is not currently registered.

He has passed the Securities Industry Essentials (SIE) exam. Daniel Makin has also passed Series 7, Series 24, Series 51, Series 65, and Series 63.

His prior registration included Raymond James Financial Services, Inc. in Westerly, Rhode Island, from March 2001 through September 2025.

Kurta Law Can Help

If you have worked with Daniel Makin and you have concerns about your investments, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Variable Annuities | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. The firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.