Gus Mask Subject of an Alternative Investment Dispute

Gus Mask (CRD #: 5359820), a broker registered with Charles Schwab, is the subject of an investor dispute, according to his BrokerCheck Record, accessed on September 18, 2023. For details on this dispute, keep reading. 

On July 27, 2023, an investor alleged that Gus Mask recommended a complex, alternative investment without regard for the impact it might have on the client. Alternative investments are high-risk and therefore unsuitable for many investors. The investor is seeking $150,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, and financial goals. 

• Investments can be unsuitable because they are high-risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means the broker executed an excessive number of trades. The number of trades increases the transaction fees, and these fees cut into the returns for the investor. 
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration to recover their losses.

Background Information 

Gus Mask 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 

He is a registered broker in 16 states and Puerto Rico. He is a registered investment adviser in Texas. 

Gus Mask has registered with the following firms: 

• Chares Schwab & Co. (CRD #: 5393) 
• USAA Investment Management Company (CRD #: 5475) 
• USAA Financial Advisors (CRD #: 129035) 
• USAA Financial Planning Services (CRD #: 106352)
• Cambridge Investment Research (CRD #: 39543) 
• Lawing Financial Inc. (CRD #: 117178) 
• AXA Advisors (CRD #: 6627) 
• TD Ameritrade (CRD #: 7870) 

Kurta Law Can Help

If you worked with Gus Mask and 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 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.