Jerry Kiefer Allegedly Recommended Unsuitable Alternative Investments

Jerry Kiefer (CRD #: 2271043), a broker registered with Equitable Advisors, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on May 24, 2024. Keep reading if you have questions regarding this dispute. 

Investor Allegations 

On March 18, 2024, investors alleged that Jerry Kiefer recommended unsuitable alternative investments. The investors are seeking $99,000. 

On January 3, 2024, an investor alleged that Jerry Kiefer misrepresented investments but the dispute was denied. Investors should know, however, that firms can deny disputes without any external review. Investors can still recover their losses following a denial. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Misrepresentation 

FINRA Rule 2020 forbids the use of deceptive, manipulative, and otherwise fraudulent methods to influence the purchase and sale of securities. The misrepresentation or omission of material facts violates this rule.

Background Information 

Jerry Kiefer 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 

He is a registered broker in 12 states and is a registered investment adviser in ten states. 

Jerry Kiefer has registered with eight firms. These are the four most recent:

• Equitable Advisors (CRD #: 6627)
• Phillips Capital Advisors (CRD #: 115758) 
• T.S. Phillips Investments (CRD #: 124348) 
• The (Wilson) Williams Financial Group (CRD #: 22704) 

Kurta Law Can Help 

If you have worked with Jerry Kiefer and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.