Eric Chang Allegedly Recommended an Unsuitable Annuity

Eric Chang (CRD #: 3265369), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 24, 2024. Investors should know that this is the fourth investor dispute on his record. 

Investor Allegations 

On March 1, 2024, an investor alleged that Eric Chang recommended an unsuitable annuity. The dispute was denied, but investors should know that firms can deny disputes without any external review. Investors can still recover losses following a denial. 

The three other disputes on his record were also denied. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

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

Background Information 

Eric Chang has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• SIE – Securities Industry Essentials Examination
• Series 6 Investment Company Products/Variable Contracts Representative Examination 

He is a registered broker and an investment adviser in California. 

During his 24 years of experience, Eric Chang has registered with two firms: Equitable Advisors (CRD #: 6627) and Prudential Financial Planning Services (CRD #: 5685). 

Kurta Law Can Help 

If you have worked with Eric Chang 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.