James Shenk Allegedly Made Unsuitable Investment Recommendations

James Shenk (CRD #:2876098), a broker registered with Coastal Equities, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on April 6, 2023. Investors may have also worked with him through Coastal Investment Advisors. If you want to know more about his conduct as a broker, keep reading.

Investor Disputes

On December 7, 2022, an investor filed a dispute alleging that James Shenk facilitated unsuitable investments. The client seeks $433,000 in this pending dispute.

On September 6, 2022, multiple investors named James Shenk in allegations involving misrepresentations and unsuitable investments. They seek $250,000 in this pending dispute.

FINRA Rule 2020

The misrepresentation of information related to investments violates FINRA Rule 2020, which bans the use of manipulative, deceptive, or otherwise unethical means of influencing the purchase and sale of securities.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that adequately suit an investor’s financial goals. Brokers must consult an investor’s profile, which contains information about their risk tolerance, tax status, and other investments when making recommendations.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

James Shenk 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 10 – General Securities Sales Supervisor – General Module Examination
• Series 9 – General Securities Sales Supervisor – Options Module Examination

James Shenk is a registered broker in 14 states and a registered investment adviser in Pennsylvania.

He has also worked for the following firms:

• LPL Financial (CRD#:6413)
• Raymond James Financial Services (CRD#:6694)
• Wachovia Securities (CRD#:19616)
• First Union Capital Markets Corporation (CRD#:6124)

Kurta Law Can Help

If you worked with James Shenk 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.