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Investor Claims Ed Dublis Recommended Unsuitable Investments

Nov 15, 2021 Investor Disputes

Ed Dublis (CRD #:1080504), a registered broker with Cambridge Investment Research, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 3, 2021. He is also a registered investment advisor with Cambridge Investment Research Advisors.

Investor Allegations

According to an investor dispute filed on September 9, 2021, Ed Dublis allegedly recommended the purchase of high-risk, high-commission, and speculative investments. Although the disclosure does not explain the nature of the investment, Ed Dublis’ alleged conduct is a violation of FINRA Rule 2111.

Brokers are required to have a reasonable basis for recommending an investment according to FINRA Rule 2111. Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age. 

  • 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 intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are over-concentrated in a particular stock or sector.

The damage amount requested is $100,000. The dispute is still pending

Background Information

Ed Dublis 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 6 - Investment Company Products/Variable Contracts Representative Examination
  • Series 24 - General Securities Principal Examination
  • Series 26 - Investment Company Products/Variable Contracts Principal Examination

He is a registered broker in 19 states. He is a registered investment adviser in Texas and Michigan.

Besides Cambridge Investment Research, Ed Dublis has worked with the following firms:  

  • LPL Financial (CRD#: 6413)
  • Invest Financial Corporation (CRD#: 12984)
  • Harbour Investments (CRD#: 19258)
  • Veravest Investments (CRD#: 3960)
  • Hornor, Townsend & Kent (CRD#: 4031)
  • MML Investors Services (CRD#: 10409)
  • R. Phelps & Co. (CRD#: 173)
  • New England Securities (CRD#: 615)
  • Pruco Securities Corporation (CRD#: 5685)

Kurta Law Can Help

If you have worked with Ed Dublis and have concerns about your investments, 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. Please contact us today if you would like us to evaluate your potential case.