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Jim Margraf Allegedly Made Unsuitable Investment Recommendation

May 24, 2023 Unsuitable Investments

Jim Margraf (CRD #: 6517554), a broker registered with Center Street Securities, allegedly recommended an unsuitable investment, according to his BrokerCheck record, accessed on May 18, 2023. Investors may have also worked with him through LaTour Asset Management. Keep reading if you want to know more about his alleged conduct as a broker.

Investor Dispute

On April 3, 2023, an investor alleged that Jim Margraf gave an unsuitable investment recommendation. The client seeks $100,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must consider the information described in the investor’s profile, such as the following:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors who rely on brokers for investment recommendations can seek out FINRA arbitration and potentially recover their losses.

Background Information

Jim Margraf has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • Series 65 – Uniform Investment Adviser Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Jim Margraf is a registered broker in ten states and a registered investment adviser in Arkansas, Missouri, and Texas.

He has also worked for Gradient Advisors (CRD#:152665).

Kurta Law Can Help

If you worked with Jim Margraf 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.

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