Hector Elizondo is Involved in a 1035 Dispute

Hector Elizondo (CRD #: 3143230), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on July 26, 2024. Details concerning his alleged conduct are provided below. 

Investor Allegations 

On May 14, 2024, an investor alleged that Hector Elizondo recommended a 1035 transfer that was not suitable for her financial needs. The dispute was denied, but investors should know that firms can deny disputes without an external review. Investors can still recover following a denial.

1035 exchanges typically exchange an insurance policy for another insurance policy, an annuity, or an endowment. These exchanges do not always work in the investor’s favor and may provide significant commissions for brokers. 

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, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable.  

Background Information 

Hector Elizondo 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 53 Municipal Securities Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker and investment adviser in Colorado, Florida, New Mexico, North Carolina, and Texas. 

Kurta Law Can Help 

If you have worked with Hector Elizondo 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.