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Investors Allege Jeff Jin Recommended Unsuitable Investments

Jeff Jin (CRD #: 4292519), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, allegedly made unsuitable investment recommendations, according to his BrokerCheck record, accessed on November 20, 2022. Read on to learn more about his alleged conduct as a broker.

Investor Disputes

On August 11, 2022, multiple investors filed a dispute alleging that Jeff Jin overconcentrated them in unsuitable investments, resulting in losses. They also alleged that he misrepresented the risk and liquidity associated with these investments. The investors seek $500,000 in this pending dispute.

In a dispute filed on February 24, 2021, several investors alleged that Jeff Jin made an unsuitable investment recommendation. This dispute was settled for $85,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must consult the investor’s profile, which describes their risk tolerance, tax status, and other characteristics.

Investment strategies must also meet the requirement for suitability. Overconcentration is a strategy that may expose an investor to an unsuitable degree of risk.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

FINRA Rule 2020

FINRA Rule 2020 forbids the use of manipulative or deceptive tactics, like the misrepresentation or omission of material facts, to influence the purchase and sale of securities.

Background Information

Jeff Jin has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials 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

Jeff Jin is a registered broker and a registered investment adviser in Texas.

He has also worked for the following firms:

  • Cetera Investment Advisers (CRD#:105644)
  • Cetera Investment Services (CRD#:15340)
  • LPL Financial (CRD#:6413)
  • UVEST Financial Services Group (CRD#:13787)
  • Amerivest Investment Management (CRD#:111514)
  • TD Ameritrade (CRD#:7870)
  • UCB Investment Services (CRD#:125574)
  • Fiserv Investor Services (CRD#:34637)
  • WM Financial Services (CRD#:599)
  • PrimeVest Financial Services (CRD#:15340)
  • Morgan Stanley DW (CRD#:7556)

Kurta Law Can Help

If you worked with Jeff Jin 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.