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Greg Degraeve’s Recommendations Allegedly Not in Client’s Best Interest

Greg Degraeve (CRD #: 5722861), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, was involved in a recent dispute, according to his BrokerCheck record, accessed on March 8, 2023. If you have questions about his alleged conduct as a broker, read on.

Investor Dispute

On December 12, 2022, an investor alleged that Greg Degraeve’s investment recommendations, made from August 2020 to December 2022, were not in the client’s best interest. This dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without an external review. Investors can still pursue FINRA arbitration following a denial and may be able to recoup their losses.

FINRA Rule 2111 and Regulation Best Interest

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles contain information about investors’ risk tolerance, age, and investment goals.

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Background Information

Greg Degraeve has passed the following exams:

  • Series 66 – Uniform Combined State 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

Greg Degraeve is a registered broker in 17 states and a registered investment adviser in Connecticut and Texas.

He has also worked for Manulife Asset Management (US) (CRD#:106435) and John Hancock Funds (CRD#:28262).

Kurta Law Can Help

If you worked with Greg Degraeve and you have concerns about your investments, please contact us today at 877-600-0098 or 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.