Dinesh Sawal Allegedly Gave Client Poor Investment Advice

Dinesh Sawal (CRD #: 4843258), a broker registered with Ameriprise Financial Services, was recently the subject of an investor dispute, according to his BrokerCheck record, accessed on March 28, 2023. If you want to know more about his alleged conduct as a broker, keep reading.

Investor Dispute

On January 15, 2023, an investor alleged that Dinesh Sawal gave them poor investment advice from 2011-2017. Poor investment advice may violate FINRA Rule 2111. This dispute was denied by the firm.

Investors should know, however, that firms can deny disputes without an outside review. Investors can potentially recoup their losses following a denial by pursuing FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately suit an investor’s financial goals. Brokers must consider the information in an investor’s profile, such as their risk tolerance, age, and tax status when making recommendations.

• High-risk investments may be unsuitable due to their likelihood of losing money.
• Illiquid investments can be difficult to sell in the short term and tend to incur high fees when investors attempt to sell them too soon.
• Excessive trading violates the need for quantitative suitability. This means that the overall number of trades executed must also be suitable for the client’s financial goals.
• Investment strategies are also required to be suitable for the investor. For example, the level of risk involved in overconcentration of securities in a certain sector or stock may be unsuitable for some investors.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

Dinesh Sawal has passed the following exams:

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

Dinesh Sawal is a registered broker in 16 states and a registered investment adviser in California and Texas.

He has also worked for IDS Life Insurance Company (CRD#:6321).

Kurta Law Can Help

If you worked with Dinesh Sawal 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.