Joanne Farace is the Subject of Misrepresentation Allegations

Joanne Farace (CRD #: 4837013), a broker registered with David Lerner Associates, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on January 26, 2024. Keep reading if you have questions regarding his alleged conduct. 

On October 23, 2023, an investor alleged that Joanne Farace made misrepresentations and omissions. They further alleged that she made unsuitable investment recommendations. The investor is seeking $100,000. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees. Brokers must always disclose the risks associated with illiquid investments, such as early withdrawal fees. 

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.

Background Information 

Joanne Farace has passed the following exams: 

• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 11 Assistant Representative-Order Processing Qualification Exam 

She is a registered broker in 16 states. 

Kurta Law Can Help 

If you have worked with Joanne Fersace and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or 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.