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Investor Seeks $1.9 Million in Suitability Dispute with Janete Rivera-Michel

Janete Rivera-Michel (CRD #: 5754050), a broker registered with PFS Investments, allegedly recommended an unsuitable investment, according to her BrokerCheck record, accessed on October 30, 2024. Read on if you want to know more about her alleged conduct as a broker.

Investor Dispute

In a pending dispute filed on August 23, 2024, an investor alleges that Janete Rivera-Michel made an unsuitable investment recommendation in 2015. The client seeks $1.9 million in damages.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information in the investor’s profile, such as their investing experience, tax status, and risk tolerance when recommending investments.

Investments may be unsuitable because they come with excessive fees, which chip away at investor returns, or because they are part of a flawed investment strategy.

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

Background Information

Janete Rivera-Michel has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Janete Rivera-Michel is a registered broker in Texas.

Kurta Law Can Help

If you worked with Janete Rivera-Michel 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 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. 

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