Edward Sokolowski Allegedly Recommended Unsuitable Investments
Edward Sokolowski (CRD #: 2221001), a broker registered with Commonwealth Financial Network, is involved in a pending investor dispute, according to his BrokerCheck record, accessed on April 15, 2022. Read on if you have questions about Edward Sokolowski’s conduct as a broker.
Allegations of Unsuitable Investment Recommendations
In a dispute filed on January 26, 2022, an investor alleged that Edward Sokolowski recommended unsuitable investments, including a variable life insurance policy and unspecified alternative investments. Variable life insurance policies often do not work to the advantage of investors. The client also alleges that their portfolio was not sufficiently diversified. They seek $200,000 in damages in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to tailor their investment recommendations to clients’ profiles, which include information like investors’ age, tax status, and other investments. Because overconcentration comes with a high degree of risk, it qualifies as an unsuitable strategy for most investors.
Investors who have lost money through unsuitable investment recommendations may be able to recover their losses through FINRA arbitration.
Edward Sokolowski 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 29 states and a registered investment adviser in Massachusetts.
He has also worked for the following firms:
- Primevest Financial Services (CRD#:15340)
- Commonwealth Financial Network (CRD#:8032)
- The Equitable Life Assurance Society of the United States (CRD#:4039)
- EQ Financial Consultants (CRD#:6627)
Kurta Law Can Help
If you worked with Edward Sokolowski and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.