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Investor Alleges Jack Godfrey Made Misrepresentations

Jack Godfrey (CRD #: 2928652), a broker registered with LPL Financial, is involved in two pending investor disputes, according to his BrokerCheck record, accessed on June 26, 2022. Keep reading to learn more about Jack Godfrey’s conduct as a broker.

Investor Disputes

On April 18, 2022, an investor alleged Jack Godfrey made misrepresentations between November 19, 2020, and the date of filing. This dispute is currently pending.

In a dispute filed on June 1, 2021, multiple investors alleged that Jack Godfrey made an unsuitable recommendation that they invest in two Business Development Companies. They seek $100,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their age, tax status, and other investments.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of deceptive, manipulative, or otherwise fraudulent tactics to influence the purchase or sale of securities. This includes the misrepresentation or omission of information concerning investments, such as their limitations, risks, or potential returns.

What is a Business Development Company (BDC)?

A Business Development Company (BDC) specializes in extending loans to struggling small-to-medium-sized businesses. Though BDCs may have high rates of return, they also come with greater risk, making them unsuitable for some investors.

Background Information

Jack Godfrey 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

Jack Godfrey is a registered broker in 28 states and a registered investment adviser in Michigan and Texas.

He previously worked for Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Jack Godfrey and you have concerns about your investments, please contact us today at 877-600-0098 or 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.