Glenn Guilbault Allegedly Recommended Unsuitable Investments

Glenn Guilbault (CRD #: 4309287), a broker registered with Cetera Advisors, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on June 29, 2023. If you have questions about his alleged conduct as a broker, read on.

Pending Dispute

In a dispute filed on March 31, 2023, multiple investors alleged that Glenn Guilbault gave unsuitable investment recommendations. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately fit an investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their age, risk tolerance, and tax status

Some common violations of this rule include:

• Recommendations of high-risk investments, which are more likely to result in losses.
• Recommendations of illiquid investments. These investments are intended to be held for an extended period of time, so investors may incur high fees when they try to cash out early.
• Excessive trading, which violates the need for quantitative suitability and generates fees and commissions that cut into investors’ returns.
• Recommendations of unsuitable investment strategies. For example, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.

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

Background Information

Glenn Guilbault has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

Glenn Guilbault is a registered broker in Louisiana, Mississippi, and Texas.

He has also worked for National Planning Corporation (CRD#:29604) and FSC Securities (CRD#:7461).

Kurta Law Can Help

If you worked with Glenn Guilbault 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.