Donnie Ingram Subject of a Regulatory Action
Donnie Ingram (CRD #: 1416971), a broker formerly registered with Centaurus Financial, was recently investigated by FINRA, according to his BrokerCheck record, accessed on October 11, 2022. Keep reading if you want to know more about his conduct as a broker.
FINRA Regulatory Action
In a pending action filed on September 27, 2022, FINRA alleged that Donnie Ingram lacked a reasonable basis to recommend UITs and alternative investments. He allegedly recommended UITs that would incur sales charges when there were cheaper options available. FINRA alleges he did this for his own financial benefit.
You can read a copy of the complaint here.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to make investment recommendations that suit their investor’s needs. These profiles contain information such as the client’s age, risk tolerance, and overall financial situation.
Investors who believe their losses are the result of unsuitable investment recommendations may be able to recover their funds by seeking out FINRA arbitration.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
From 2016-2017, six investors filed disputes against Donnie Ingram involving the unsuitability of the investments in their accounts. One specifically mentioned bonds and real estate investment trusts (REITs).
These disputes were collectively settled for $541,500.
What is a real estate investment trust?
A real estate investment trust (REIT) is a company that purchases and maintains real estate properties. Investors who place their funds in a REIT generate returns without needing to manage the properties themselves. However, REITs tend to be illiquid, making them unsuitable for many investors.
Donnie Ingram has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 24 – General Securities Principal Examination
He previously worked for the following firms:
- Centaurus Financial (CRD#:30833)
- Investors Capital Corporation (CRD#:30613)
- IFG Network Securities (CRD#:19948)
- Buckhead Financial (CRD#:18398)
- Walnut Street Securities (CRD#:15840)
- NAP Financial Corporation (CRD#:16023)
- Mariner Financial Services (CRD#:8292)
- Berachah Securities Corporation (CRD#:16228)
- Protective Equity Services (CRD#:15708)
Kurta Law Can Help
If you worked with Donnie Ingram and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.