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Delbert Carnes is Facing Allegations of Misrepresentation

Delbert Carnes (CRD #: 862253), a previously registered broker with Woodbury Financial Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on February 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On November 21, 2023, an investor alleged that Delbert Carnes misrepresented unsuitable investment recommendations regarding the sale of an alternative investment. The investor sought $57,533. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable

Previous Investor Disputes 

Delbert Carnes has four other settled investor disputes on his record. 

Background Information 

Delbert Carnes has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 62 Corporate Securities Limited Representative Examination 
  • Series 1 Registered Representative Examination 

During his 40 years of experience, he registered with seven firms: 

  • Woodbury Financial Services (CRD #: 421) 
  • Sammons Securities Company (CRD #: 115368) 
  • Walnut Street Securities (CRD #: 15840) 
  • Washington Square Securities (CRD #: 2882) 
  • Wealth Resource Capital Corporation (CRD #: 10367) 
  • Private Ledger Financial Services (CRD #: 6413) 
  • Capital Analysts Incorporated (CRD #: 5478) 

Kurta Law Can Help 

If you have worked with Delbert Carnes and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.