Did Esdall Hilty Provide Unsuitable Recommendations?

Esdall Hilty (CRD #: 5476226), a broker registered with Charles Schwab, is the subject of an investor dispute, according to his BrokerCheck record, accessed on September 22, 2023. Keep reading if you have questions concerning his alleged conduct as a broker. 

On July 17, 2023, an investor alleged Esdall Hilty provided unsuitable recommendations, namely to switch bond portfolio managers and to sell certain securities in 2022 for tax loss harvesting purposes. The investor is seeking $750,000. 

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 

Esdall Hilty 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
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker in 19 states and is a registered investment adviser in Florida. 

During his 15 years of experience, Edall Hilty has only registered with Charles Schwab & Co. (CRD #: 5393). 

Kurta Law Can Help

If you worked with Esdall Hilty and 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 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.