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Edward Balmes Named in Disputes Alleging Unsuitable Investments

Edward Balmes (CRD #: 2110152), a broker registered with Moloney Securities Company, is involved in two pending disputes, according to his BrokerCheck record, accessed on January 24, 2023. Investors may have also engaged his services through Moloney Securities Asset Management. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Disputes

On November 28, 2022, an investor named Edward Balmes in a dispute alleging negligence and violation of the suitability rule. The client seeks $99,000 in this pending dispute.

In a dispute filed on July 27, 2020, several investors named Edward Balmes in a dispute alleging that investments purchased between 2010-2020 were unsuitable and that the value of their portfolios declined. The clients sought $500,000 in damages and received a settlement of $77,500.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile, which describes their age, tax status, financial goals, and other characteristics.

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

What is broker negligence?

Many types of broker misconduct may qualify as negligence. Common examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and excessive trading.

Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.

Background Information

Edward Balmes has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Edward Balmes is a registered broker in nine states and a registered investment adviser in Missouri.

He has also worked for the following firms:

  • Moloney Investment Advisory (CRD#:282140)
  • R.T. Jones Capital Equities (CRD#:19775)
  • NYLIFE Securities (CRD#:5167)

Kurta Law Can Help

If you worked with Edward Balmes and you have concerns about your investments, please contact us today at 877-600-0098 or 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.