Investor Alleges Gregory Melendez Gave Unsuitable Investment Recommendations

Gregory Melendez (CRD #: 4920698), a broker registered with Laidlaw & Company (UK), allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on September 5, 2022. Investors may have also worked with him through Laidlaw Wealth Management. Read on if you want to know more about his conduct as a broker.

Investor Disputes

On June 10, 2022, an investor alleged that Gregory Melendez made unsuitable investment recommendations. The client seeks $50,000 in this pending dispute.

On December 11, 2020, an investor alleged Gregory Melendez executed excessive trades and made unsuitable investment recommendations. The client seeks $72,253 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment or investment strategy fits their client’s financial goals. Brokers must consider their client’s risk tolerance, age, and other information contained in the investor’s profile.

Excessive trading, also known as churning, violates the requirement for quantitative suitability. Quantitative suitability requires that trading activity in a client’s account is suitable for their goals. An excessive number of trades can quickly generate fees that eat into investors’ returns.

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

Background Information

Gregory Melendez 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 9 – General Securities Sales Supervisor – Options Module Examination
• Series 24 – General Securities Principal Examination

Gregory Melendez is a registered broker in 34 states and the District of Columbia. He is also a registered investment adviser in Texas.

He has also worked for the following firms:

• IAA Financial (CRD#:6578)
• GunnAllen Financial (CRD#:17609)
• The GMS Group (CRD#:8000)

Kurta Law Can Help

If you worked with Gregory Melendez 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.