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Investors Allege Edward Baroncini Purchased Unsuitable Investments

May 10, 2023 Unsuitable Investments

Edward Baroncini (CRD #: 3043354), a broker registered with LPL Financial, allegedly made unsuitable investments for clients, according to his BrokerCheck record, accessed on May 4, 2023. Investors may have also worked with him through Excel Wealth Management. Keep reading if you have questions about his alleged conduct as a broker.

Investor Dispute

On February 21, 2023, several investors filed a dispute alleging that Edward Baroncini made investments between April 2019 and December 2022 that were unsuitable for their investment objectives and risk tolerances. They seek $515,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. Some common violations of this rule include:

  • Recommendations of high-risk or illiquid investments. These investments may lead to losses or high fees for the investor.
  • Excessive trading, which violates the need for quantitative suitability. This means that overall trading activity must also suit an investor’s goals.
  • Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.

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

Background Information

Edward Baroncini has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 24 – General Securities Principal Examination

Edward Baroncini is a registered broker in 16 states and a registered investment adviser in six states.

He has also worked for FSC Securities (CRD#:7461).

Kurta Law Can Help

If you worked with Edward Baroncini 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.