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Derek Crihfield is Facing a Suitability Dispute

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
August 21, 2023 at 7:32pm

Derek Crihfield (CRD #: 5857719), a broker registered with Ameriprise Financial Services, is the subject of a six-figure investor dispute. This disclosure appears in his BrokerCheck record, accessed on August 15, 2023. Keep reading if you have concerns about his conduct as a broker. 

On June 22, 2023, an investor alleged Derek Crihfield recommended an unsuitable investment. This unsuitable investment allegedly created unexpected tax consequences. The investor is seeking $200,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

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

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

Background Information 

Derek Crihfield has passed the following exams: 

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

He is a registered broker in 20 states and is a registered investment adviser in Ohio and Texas. 

Derek Crihfield has worked for the following firms: 

  • Ameriprise Financial Services (CRD #: 6363)
  • Edward Jones (CRD #: 250) 
  • Scofield & Company (CRD #: 105589) 
  • Silver Oak Securities Incorporated (CRD #: 46947) 

Kurta Law Can Help

If you worked with Derek Crihfield 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.

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