Investor Claims Francis Searing Recommended Unsuitable Investments
Francis Searing (CRD #:417591), a registered broker and investment advisor with Cetera Advisor Networks, is involved in an investor dispute, according to his BrokerCheck record, accessed on November 5, 2021. He is also a registered investment advisor with Cetera Investment Advisers. Investors may also have engaged Francis Searing’s services through PDI Financial Group.
The dispute filed on August 16, 2021, alleges that Francis Searing recommended unsuitable investments. The damage amount requested is $52,000. The dispute is still pending
Although the disclosure does not explain the nature of the investment, Francis Searing’s alleged conduct is a violation of FINRA Rule 2111 (Suitability).
What is Suitability?
“Suitability” is the term used to describe an ethical, enforceable standard for investments that financial professionals are bound to when dealing with clients. An investment is only considered “suitable” if it meets the suitability criteria outlined in FINRA Rule 2111.
A broker must have exercised due diligence and have an adequate reason for believing that an investment will also be suitable or beneficial for the investor Investors who rely on their brokers for recommendations may be able to recover their losses through FINRA arbitration if their broker recommended an unsuitable investment.
Francis Searing Background Information
Francis Searing 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 6 – Investment Company Products/Variable Contracts Representative Examination
- Series 24 – General Securities Principal Examination
Francis Searing is a registered broker in 3 states. He is also a registered investment adviser in Florida.
Besides Cetera Advisor Networks and Cetera Investment Advisers, Francis Searing has also worked with the following firms:
- Summit Financial Group (CRD#:109485)
- Summit Brokerage Services (CRD#:34643)
- J P Turner & Company Capital Management (CRD#:124446)
- J.P. Turner & Company (CRD#:43177)
- Gunnallen Financial (CRD#:17609)
- FFP Securities (CRD#:16337)
- Guardian Investor Services Corporation (CRD#:6635)
Kurta Law Can Help
If you have worked with Francis Searing and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or email@example.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 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.