Investors Allege that Douglas Buczak made Unsuitable Investment Recommendations

Douglas Buczak (CRD #: 1334415), a broker formerly registered with Raymond James Financial Services, is the subject of a pending suitability dispute, according to his BrokerCheck record, accessed on May 15, 2025. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Disputes

On March 13, 2025, multiple investors filed a dispute alleging that Douglas Buczak made an investment recommendation in order to generate commissions and fees, and that this investment deprived them of their ability to generate reasonable returns. This dispute is currently pending.

In a dispute filed on January 31, 2022, an investor alleged that Douglas Buczak recommended significant concentrations in risky non-conventional investments and investments that generated high commissions, resulting in losses. The investor sought $500,000 and received a settlement of $140,000.

FINRA Rule 2111

FINRA Rule 2111 requires financial advisors to have a “reasonable basis” to believe that a recommended transaction or investment strategy is suitable for their client. Investments may be unsuitable because they do not align with the investor’s financial goals, investing experience, age, or risk tolerance.

• Investments can be unsuitable because they are high risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are meant to be held for an extended period of time and may be costly to cash out.
• Securities must also be quantitatively suitable, meaning that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, overconcentration of securities in one stock or sector is typically unsuitable due to the high level of risk.

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

Background Information

Douglas Buczak 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

In the past, Douglas Buczak has worked with the following firms:

• Raymond James Financial Services (CRD#:6694)
• Cambridge Investment Research (CRD#:39543)
• Mutual Service Corporation (CRD#:4806)
• Lowry Financial Services Corporation (CRD#:7291)

Kurta Law Can Help

If you suffered losses after working with Douglas Buczak, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For nearly 20 years, Kurta Law has advocated for investors 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.