Investor Alleges James Cavalier Recommended Unsuitable REITs

James Cavalier (CRD #: 1579594), a broker formerly registered with Ameriprise Financial Services, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on July 13, 2022. If you have questions about James Cavalier’s conduct as a broker, read on.

Investor Dispute

On May 10, 2022, an investor alleged that James Cavalier made unsuitable recommendations to purchase $60,000 each in two real estate investment trusts (REITs), Corporate Property Associates 18 and Cary Watermark, both in his SEP-IRA. He allegedly recommended these investments on May 19, 2014, and December 2, 2014, respectively

The client seeks $55,000 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.

What is a real estate investment trust?

A real estate investment trust (REIT) is a company that owns and manages a portfolio of real estate properties. Investors who purchase shares in the REIT generate returns without taking on the responsibility that comes with owning the properties themselves. However, the lack of liquidity associated with REITs makes them unsuitable for some investors.

Background Information

James Cavalier has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

He has also worked for Ameriprise Financial Services (CRD#:6363) and IDS Life Insurance Company (CRD#:6321).

Kurta Law Can Help

If you worked with James Cavalier 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.