Douglas Frank Allegedly Made Unsuitable Investment Recommendations

Douglas Frank (CRD #: 723283), a broker registered with Wells Fargo Advisors Financial Network, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on March 1, 2025. Investors may have also worked with him through Wells Fargo Advisors. Keep reading if you have concerns about his alleged conduct as a broker.

Investor Dispute

On June 22, 2022, an investor alleged that Douglas Frank recommended unsuitable investments from October 2021 to June 2022. This dispute was denied by the firm.

Investors should be aware, however, that firms can deny disputes without an outside review. It’s still possible to recover damages after a denial by seeking out FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the information in an investor’s profile, such as their age, tax status, risk tolerance, and investing experience.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information 

Douglas Frank has passed the following exams: 

• General Securities Principal Examination – Series 24
• Securities Industry Essentials Examination – SIE
• Foreign Currency Options Examination – Series 15
• General Securities Representative Examination – Series 7
• Investment Company Products/Variable Contracts Representative Examination – Series 6
• Uniform Investment Adviser Law Examination – Series 65
• Uniform Securities Agent State Law Examination – Series 63

He is a registered broker in 20 states and is a registered investment adviser in California and Texas. 

Douglas Frank has also worked with the following firms: 

• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• Banc of America Investment Services (CRD #: 16361) 
• BA Investment Services (CRD #: 12965) 
• GNA Securities (CRD #: 10465) 
• Prudential-Bache Securities (CRD #: 7471) 
• E.F. Hutton & Company (CRD #: 235) 
• IDS Life Insurance Company (CRD #: 6321) 
• IDS Marketing Corporation (CRD #: 6363) 
• Investors Diversified Services (CRD #: 6320) 

Kurta Law Can Help

If you worked with Douglas Frank 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.