Did James Kim Recommend Unsuitable Investments?
James Kim (CRD #: 5415982), a broker registered with J.P. Morgan Securities, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 10, 2023. Keep reading for more details.
On September 15, 2023, an investor alleged that James Kim recommended unsuitable investments. The investor is seeking $65,000.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.
Some common violations of this rule include:
- Excessive trading, which violates the need for quantitative suitability. This means that the number of trades must suit an investor’s goals. Excessive trading is also known as “churning.”
- Recommendations of unsuitable investment strategies. For instance, overconcentration of securities in a certain stock or sector is typically unsuitable due to the degree of risk.
- Recommendations of high-risk or illiquid investments. These investments may lead to high fees for the investor.
Investors who rely on brokers for recommendations may be able to recover their losses by pursuing FINRA arbitration.
James Kim 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 6 Investment Company Products / Variable Contracts Representative Examination
He is a registered broker in 16 states and is a registered investment adviser in New Jersey, New York, and Texas.
Kurta Law Can Help
If you worked with James Kim and have concerns about your investments, please contact us today at 877-600-0098 or email@example.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 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.