Did Huey L’Herault Recommend to His Client Unsuitable Investments?
Huey L’Herault (CRD #: 1467292), a broker and investment advisor registered with Wells Fargo Clearing Services, was involved in an investor dispute, according to his BrokerCheck record, accessed on March 26, 2022.
According to the allegations filed on December 21, 2021, Huey L’Herault sold portfolio assets in his client's commission accounts rather than fee-based accounts resulting in overcharges and lost investment opportunities. The firm denied the case. Investors should know that they can still pursue FINRA arbitration and recover their losses following a denial.
FINRA Rule 2111
Brokers must consider the factors listed below when recommending investments to investors:
- The investor's current financial state and tax status
- The investor's financial goals
- The investor's risk tolerance
According to FINRA Rule 2111, brokers may be liable for investor unsuitability claims if they fail to consider the factors listed above. A broker must have exercised due diligence and have an adequate reason for believing that an investment will be suitable or beneficial for the investor.
Ensure you are not being taken advantage of by contacting the securities attorneys at Kurta Law as soon as possible if you believe you lost funds due to unsuitable investment recommendations.
Huey L’Herault 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 3 - National Commodity Futures Examination
- Series 7 - General Securities Representative Examination
He is a registered broker in 14 states and is a registered investment advisor in Florida and Texas.
Besides Wells Fargo Clearing Services, Huey L’Herault has also worked with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), and Prudential Securities Incorporated (CRD#:7471).
Kurta Law Can Help
If you have worked with Huey L’Herault and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or email@example.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 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.