Dennis Herrera Allegedly Recommended Unsuitable Investments

Dennis Herrera (CRD #: 4772997), a broker registered with Cetera Investment Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on September 9, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On May 30, 2024, an investor alleged that Dennis Herrera recommended unsuitable investments which resulted in losses. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Rule 2111 also requires brokers to consider the following investor characteristics: 

• Investment goals
• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Dennis Herrera has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 26 Investment Company Products/ Variable Contracts Principal Examination 

He is a registered broker in 15 states and is a registered investment adviser in New Jersey, New York, and Texas. 

During his 20 years of experience, Dennis Herrera has registered with four firms: 

• Cetera Investment Services (CRD #: 15340) 
• Cetera Investment Advisers (CRD #: 105644) 
• Foresters Advisory Services (CRD #: 164663) 
• Foresters Financial Services (CRD #: 305) 

Kurta Law Can Help 

If you worked with Dennis Herrera and you have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com 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.