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Evan Kirkpatrick Allegedly Recommended Alternative Investments

Evan Kirkpatrick (CRD #:5272521), a broker registered with LPL Financial, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 28, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 15, 2024, an investor alleged that Evan Kirkpatrick recommended unsuitable alternative investments in light of the customer’s investment profile and risk tolerance. The investor is seeking $300,000. 

Alternative investments are often unsuitable given their higher risk. 

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

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

Background Information 

Evan Kirkpatrick has passed the following exams: 

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

He is a registered broker in eight states and is a registered investment adviser in Iowa and Texas. 

During his 16 years of experience, he has registered with five firms: 

  • LPL Financial (CRD #: 6413) 
  • First Allied Advisory Services (CRD #: 137888) 
  • First Allied Securities (CRD #: 32444) 
  • NFP Securities (CRD #: 42046) 
  • AXA Advisors (CRD #: 6627) 

Kurta Law Can Help 

If you have worked with Evan Kirkpatrick 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.