Fera Shivaee Allegedly Recommended an Illiquid and High-Risk Investment

Fera Shivaee (CRD #: 2271590), a broker registered with Centaurus Financial, is the subject of an investor dispute, according to her BrokerCheck record, accessed on October 13, 2023. Keep reading if you have questions about her alleged conduct. 

On September 12, 2023, an investor alleged Fera Shivaee recommended an illiquid and high-risk investment. These types of investments are often unsuitable. The investor further alleged she broached her fiduciary duty. The investor is seeking $100,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable. 

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Fera Shivaee has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 2 Non-Member Genera Securities Examination 
• Series 6 Investment Company Products / Variable Contracts Representative Examination 
• Series 24 General Securities Principal Examination 
• Series 26 Investment Company Products 

Fera Shivaee is a registered broker in eight states and is a registered investment adviser in seven states.

During her 30 years of experience, she has registered with four firms: 

• Centaurus Financial (CRD #: 30833) 
• SunAmerica Securities (CRD #: 20068) 
• Finance 500 Inc. (CRD #: 12981) 
• Mariner Financial Services (CRD #: 8292) 

Kurta Law Can Help

If you worked with Fera Shivaee 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.