David Coonrod is Facing Unsuitable Recommendation Allegations

David Coonrod (CRD #: 2845523), a broker registered with Kestra Investment Services, is the subject of an investor dispute. This dispute appears on his BrokerCheck record accessed on September 19, 2023. Keep reading if you have questions about his alleged conduct. 

On July 25, 2023, an investor alleged that David Coonrod recommended unsuitable investments. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

• Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals.
• Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
• Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. A violation of FINRA Rule 2111 is also a violation of FINRA Rule 2010.

Background Information 

David Coonrod has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination
• Series 24 General Securities Principal Examination 

He is a registered broker in 13 states and D.C. He is a registered investment advisor in Illinois. 

David Coonrod has registered with the following firms: 

• Kestra Investment Services (CRD #: 42046) 
• Kestra Advisory Services (CRD #: 283330) 
• NFP Advisor Services (CRD #: 42046) 
• Financial Network Investment Corporation (CRD #: 13572) 

Kurta Law Can Help

If you worked with David Coonrod 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 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.