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Investor Alleges Ernesto Chavez Gave Unsuitable Investment Recommendations

Dec 2, 2022 Misrepresentation

Ernesto Chavez (CRD #: 4315877), a broker registered with Emerson Equity, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on November 28, 2022. Read on if you have questions about his conduct as a broker.

Investor Dispute

On October 27, 2022, an investor alleged Ernesto Chavez made unsuitable investment recommendations and misrepresentations. The client seeks $210,000 in this pending dispute.

On October 17, 2022, an investor filed a dispute alleging Ernesto Chavez violated securities statutes and breached his contract. The client also made undisclosed claims under common law. The investor seeks $100,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. These profiles describe an investor’s age, risk tolerance, and other characteristics.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent tactics to influence investors’ decisions. Misrepresenting an investment’s features, risks, or other relevant information violates this rule.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Background Information

Ernesto Chavez has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Ernesto Chavez is a registered broker in Arizona, California, and New Mexico. He is also a registered investment adviser in Arizona.

He has also worked for the following firms:

  • Western International Securities (CRD#:39262)
  • J P Turner & Company Capital Management (CRD#:124446)
  • J.P. Turner & Company (CRD#:43177)
  • United Planners’ Financial Services of America (CRD#:20804)
  • Edward Jones (CRD#:250)

Kurta Law Can Help

If you worked with Ernesto Chavez and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com 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.