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Eric Bishoff Allegedly Recommended an Illiquid, Unsuitable Investment

Eric Bishoff (CRD #: 2748073), a broker registered with Cambridge Investment Research, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on July 19, 2024. Investors may have engaged his services through the Bishoff Financial Group. 

Investor Allegations 

On May 29, 2024, an investor alleged that Eric Bishoff recommended an investment that was illiquid and unsuitable. The investor sought $50,000, but the dispute was denied by the firm. Investors should know, however, that firms can deny disputes without any external review. 

FINRA Rule 2111 – Unsuitable, Illiquid Investments

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Brokers must also consider the investment time horizon and the investor’s liquidity needs – illiquid, long-term investments often do not suit a client’s best interests. 

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

Background Information 

Eric Bishoff has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

He is a registered broker in 40 states and is a registered investment adviser in California, Ohio, and Texas. 

During his 27 years of experience, he has registered with six firms: 

  • Cambridge Investment Research (CRD #: 39543) 
  • Cambridge Investment Research Advisors (CRD #: 134139) 
  • Prospera Financial Services (CRD #: 10740) 
  • LPL Financial (CRD #: 6413) 
  • Edward Jones (CRD #: 250) 
  • The Huntington Investment Company (CRD #: 16986) 

Kurta Law Can Help 

If you have worked with Eric Bishoff 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.