David Bedford Allegedly Recommended Unsuitable Variable Annuity

David Bedford (CRD #: 5042430), a broker registered with Fidelity Brokerage Services, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on March 7, 2023. Investors may have also worked with him through Fidelity Personal and Workplace Advisors. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On December 14, 2022, an investor alleged that David Bedford recommended an unsuitable variable annuity. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes an investor’s tax status, risk tolerance, and other characteristics.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

What are variable annuities?

Variable annuities are complex investments. These policies can decline in value depending on the performance of their underlying securities. Surrender charges, tax penalties, and other fees can make these policies unsuitable.

Background Information

David Bedford has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

David Bedford is a registered broker in all 50 states, the District of Columbia, and Puerto Rico. He is also a registered investment adviser in Texas.

He previously worked for Strategic Advisers (CRD#:104555).

Kurta Law Can Help

If you worked with David Bedford 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.