Grace Choi Allegedly Recommended an Unsuitable REIT

Grace Choi (CRD #: 2210015), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 16, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On March 27, 2024, an investor alleged that Grace Choi recommended an unsuitable REIT. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

What Are REITs?

Real estate investment trusts (REITs) allow investors to generate returns from a portfolio of real estate without being directly involved in property management. However, REITs tend to be illiquid, which makes them unsuitable for many investors. Non-traded REITs are especially risky because they are not traded on the public exchange, making them difficult or impossible to sell.

Background Information 

Grace Choi 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 

During her 28 years of experience, she registered with two firms: Equitable Advisors (CRD #: 6627) and The Equitable Life Assurance Society of the United States (CRD #: 4039). 

Kurta Law Can Help 

If you have worked with Grace Choi and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.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 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. Do not let securities fraud go unchecked. Start your recovery process today.