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Douglas Burchett is the Subject of a Six-Figure Dispute

Securities Lawyer Jonathan Kurta
By: Jonathan Kurta Author
October 19, 2025 at 9:01pm

Douglas Burchett (CRD #: 1740800), a broker registered with FBL Marketing Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on October 19, 2025. Keep reading if you have questions regarding his alleged conduct.

Investor Allegations

On September 2, 2025, an investor alleged that Douglas Burchett recommended an unnecessary policy, as the investor did not require an income source. The investor sought $307,802.01, but the dispute was denied by the firm.

Investors should know, however, that firms can deny a dispute without any external review, and investors can still recover following a denial.

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

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

Background Information

Douglas Burchett has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination

He has registered as a broker in Iowa.

Kurta Law Can Help

If you worked with Douglas Burchett 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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