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Investor Alleges Evan Savarick Engaged in Unsuitable Option Trading

Jun 21, 2022 Unsuitable Investments

Evan Savarick (CRD #: 5153903), a broker registered with Morgan Stanley, is involved in two pending disputes, according to his BrokerCheck record, accessed on June 12, 2022. Keep reading to learn more about Evan Savarick’s conduct as a broker.

Investor Disputes

In a dispute filed on April 22, 2022, an investor alleged that Evan Savarick engaged in unsuitable options trading in Netflix in 2022. This dispute is pending.

On October 29, 2020, an investor alleged, among other things, that Evan Savarick failed to follow instructions concerning managed accounts between August 2019 and October 2020. The client seeks $140,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that sufficiently match an investor’s profile. An investor’s profile contains descriptive information such as their tax status, age, and risk tolerance. Investors who feel their losses were caused by violations of FINRA Rule 2111 may be able to recover damages through FINRA arbitration.

Options trading is quite risky and complex and can lead to significant losses. It is an unsuitable trading strategy for many investors. 

Background Information

Evan Savarick has passed the following exams:

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

Evan Savarick is a registered broker in 24 states and a registered investment adviser in Florida, New Jersey, and Texas.

Kurta Law Can Help

If you worked with Evan Savarick 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.