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George James Allegedly Recommended an Unsuitable Investment

May 11, 2022 Unsuitable Investments

George James (CRD #: 2668465), a broker registered with Equitable Advisors, is involved in an investor dispute, according to his BrokerCheck record, accessed on May 5, 2022. Read on to learn more about George James’s conduct as a broker.

Investor Dispute

On March 18, 2022, an investor alleged that George James sold them an unspecified unsuitable investment in 2019. This dispute is pending.

What are unsuitable investments?

FINRA Rule 2111 defines suitable investments as securities that fit an investor's profile. An investor's profile includes information about their risk tolerance, financial goals, and age. 

Some examples of unsuitable investments include:

  • Investments that are high risk and likely to lose money.
  • Securities that are illiquid are difficult to trade on short notice and tend to incur high fees for investors that try to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • Investment strategies may also be unsuitable. For example, over-concentrating in a particular stock or sector is a fundamentally risky strategy.

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

Background Information

George James 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

George James is a registered broker in 18 states and a registered investment adviser in 15 states.

He previously worked for The Equitable Life Assurance Society of the United States (CRD#:4039).

Kurta Law Can Help

If you worked with George James 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.