Investor Alleges James Horney Made an Unsuitable Investment Recommendation

James Horney (CRD #: 7067795), a broker registered with Equitable Advisors, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on November 13, 2022. If you have questions about his conduct as a broker, read on.

Investor Dispute

On August 28, 2022, an investor alleged James Horney made an unsuitable recommendation to replace his life insurance policy in 2022. This dispute is pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately suit an investor’s financial goals. Brokers must consider the information in an investor’s profile, such as their risk tolerance, age, and tax status.

• High-risk investments may be unsuitable due to their likelihood of losing money.
• Illiquid investments can be difficult to sell in the short-term and tend to incur high fees when investors attempt to sell them too soon.
• Excessive trading violates the need for quantitative suitability. This means that the overall number of trades executed must also be suitable for the client’s financial goals.
• Investment strategies are also required to be suitable for the investor. For example, the level of risk involved in overconcentration of securities in a certain sector or stock may be unsuitable for some investors.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

Background Information

James Horney has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 7TO – General Securities Representative Examination
• SIE – Securities Industry Essentials Examination

James Horney is a registered broker and registered investment adviser in California.

Kurta Law Can Help

If you worked with James Horney 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.