Gregory Brown Subject of $250,000 Investor Dispute 

Gregory Brown (CRD #: 2137212), a broker registered with Osaic Wealth, is facing allegations that he recommended unsuitable investments, resulting in investor losses. These allegations appear in his BrokerCheck record, accessed on July 21, 2023. Investors may have also utilized his services through Focus Financial. 

On May 25, 2023, an investor alleged that Gregory Brown recommended an unsuitable investment, resulting in losses for an investor. The investor is seeking $250,000 but the dispute was denied by the firm. 

Investors should know, however, that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must take into account the information described in an investor’s profile, such as their age, tax status, and other investments.

• High-risk and illiquid investments are frequently unsuitable due to their risk and/or difficulty to sell in the near future.
• Trading activity can also be quantitatively unsuitable, meaning that the broker executed an excessive number of trades, racking up trading fees and commissions that cut into the client’s returns.
• Investment strategies must also serve investors’ goals. Overconcentration in a particular sector or stock is often an unsuitable investment strategy, due to the high degree of risk.

Background Information 

Gregory Brown has passed the following exams: 

• 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 

He is a registered broker in eight states and a registered investment adviser in Wisconsin. 

Prior to Osaic Wealth and Focus Financial, Gregory Brown registered with the following firms: 

• Equity Design Advisors (CRD #: 133242) 
• BradleyWhalen Financial Services (CRD #: 130016) 
• The O.N. Equity Sales Company (CRD #: 2936) 
• M&I Brokerage Services (CRD #: 16517) 
• EQ Financial Consultants (CRD #: 6627) 
• The Equitable Life Assurance Society of The United States (CRD #: 4039) 

Kurta Law Can Help

If you worked with Gregory Brown 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.