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Edwin Murphy Allegedly Recommended Unsuitable Investments

Edwin Murphy (CRD #: 2658678), a broker registered with Equity Services, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on July 2, 2024. Keep reading if you have questions regarding his alleged conduct. 

Customer Dispute

On March 27, 2024, an investor alleged that Edwin Murphy recommended unsuitable investments and failed to execute certain trades. The investor is seeking $50,000. 

Unsuitable Investments 

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

Some common violations of this rule include:

  • 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.
  • Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.

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

Background Information 

Edwin Murphy has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 6 Investment Company Products / Variable Contracts Representative Examination 

He is a registered broker in eight states and is a registered investment adviser in New York. 

During his 28 years of experience, Edwin Murphy has registered with three firms: 

  • Equity Services (CRD #: 265) 
  • ESI Financial Advisors (CRD #: 265) 
  • Ameriprise Financial Services (CRD #: 6363) 
  • NFP Securities (CRD #: 42046) 

Kurta Law Can Help 

If you have worked with Edwin Murphy and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 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. Do not let securities fraud go unchecked. Start your recovery process today.