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Dominick Profaci Involved in Dispute with Multiple Investors

May 9, 2022 Unsuitable Investments

Dominick Profaci (CRD #: 6732998), a broker registered with Edward Jones, is involved in a pending dispute, according to his BrokerCheck record, accessed on May 2, 2022. If you want to learn more about Dominick Profaci’s conduct as a broker, keep reading.

Investor Allegations

On March 22, 2022, several investors filed a dispute alleging that Dominick Profaci directed them to sell a certificate of deposit with penalties and switch to a fixed income/equity portfolio, which they believe was not in their best interest. This dispute is pending. 

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

Background Information

Dominick Profaci has passed the following exams:

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

Dominick Profaci is a registered broker in 13 states and a registered investment adviser in Missouri, New York, and Texas.

Kurta Law Can Help

If you worked with Dominick Profaci 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.