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Darren Grossman Allegedly Recommended Illiquid Investment

Feb 16, 2023 Unsuitable Investments

Darren Grossman (CRD #: 5762586), a broker registered with Centaurus Financial, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on February 9, 2023. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On August 2, 2022, multiple investors filed a dispute alleging that Darren Grossman recommended an unsuitable investment that was high-risk and illiquid. The clients seek $150,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which contains information about their risk tolerance, age, and tax status.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Darren Grossman has passed the following exams:

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

Darren Grossman is a registered broker in 12 states and a registered investment adviser in ten states.

He previously worked for MSI Financial Services (CRD#:14251).

Kurta Law Can Help

If you worked with Darren Grossman 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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