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Donald Durando Allegedly Gave Unsuitable Investment Recommendations

Donald Durando (CRD #: 5509340), a broker registered with PHX Financial, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 21, 2025. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On March 30, 2020, an investor filed a dispute alleging that Donald Durando recommended unsuitable investments. The client sought $650,000 in damages and received a settlement of $230,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must use the information in an investor’s profile, such as their risk tolerance, age, and investing experience when making recommendations.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds through FINRA arbitration.

Background Information

Donald Durando has passed the following exams:

  • Investment Banking Registered Representative Examination – Series 79TO
  • Securities Industry Essentials Examination – SIE
  • General Securities Representative Examination – Series 7
  • Uniform Securities Agent State Law Examination – Series 63

Donald Durando is a registered broker in 44 states as well as the District of Columbia and Puerto Rico.

He has also worked for IAA Financial (CRD#:6578) and John Thomas Financial (CRD#:40982).

Kurta Law Can Help

If you worked with Donald Durando 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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