George Kuruvilla Subject of Suitability Dispute

George Kuruvilla (CRD #: 1000316), a broker registered with Lifemark Securities Corp., is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on November 6, 2023. Keep reading if you have questions about his alleged conduct. 

Investor Dispute

According to allegations filed on August 14, 2023, George Kuruvilla failed to perform his due diligence, recommended unsuitable investments, and violated his fiduciary duty. The investors further alleged he violated the New York Consumer Protection Act. 

Fiduciary Duties

FINRA-registered 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.) 

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. 

Regulatory Actions

Investors should know that there are also three regulatory actions from state securities regulators on George Kuruvilla’s record. 

Background Information 

George Kuruvilla has passed the following exams:

• Series 65 Uniform Investment Adviser Law Examination 
• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds 
• Series 7 General Securities Representative Examination 

He is a registered broker in Connecticut, Massachusetts, New Jersey, and New York. He is also a registered investment adviser in Massachusetts. 

George Kuruvilla has registered with the following firms: 

• Lifemark Securities (CRD #: 16204) 
• Virtue Capital Management (CRD #: 167816) 
• Center Street Advisors (CRD #: 169329) 
• Center Street Securities (CRD #: 26898) 
• Brookstone Capital Management (CRD #: 141413) 
• Center Street Securities (CRD #: 26898) 
• Northwestern Mutual Investment Services (CRD #: 2881) 
• Robert W. Baird & Co. (CRD #: 8158) 

Kurta Law Can Help

If you worked with George Kuruvilla 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.