Joe Gutierrez Subject of FINRA Investigation

Joe Gutierrez (CRD #: 5527598), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, has been investigated by FINRA. This disclosure appears on his BrokerCheck record, accessed on January 18, 2025. Keep reading if you have questions about his conduct as a broker. 

FINRA Investigation

On December 20, 2024, FINRA entered a preliminary determination recommending disciplinary action be brought against Joe Gutierrez, alleging that he engaged in an outside business activity without notifying his firm in advance. FINRA alleged that he violated FINRA Rules 3270 and 2010.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose to their firm any business activities they engage in outside it, including any compensation they expect to receive.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Other business activities

Joe Gutierrez discloses one outside business activity on his detailed BrokerCheck page: he is a consultant for Decision One Health, a durable medical equipment company run by his wife.

Investor Dispute

On September 4, 2024, an investor alleged that Joe Gutierrez failed to act in her best interest in 2020. The client seeks $1 million in this pending dispute.

Regulation Best Interest

Regulation Best Interest (Reg-BI) is an SEC regulation that requires brokerage firms to put their clients’ best interests first. For example, firms must conduct reasonable due diligence when researching investments to ensure their recommendations are suitable for the investor.

Criminal Charges

On August 22, 2023, four charges were entered against Joe Gutierrez, including attempt and conspiracy to commit healthcare fraud and wire fraud. These charges are currently pending.

Background Information 

Joe Gutierrez has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 

He is a registered broker in 27 states and is a registered investment adviser in Florida and Texas. 

Joe Gutierrez has registered with the following firms: 

• Wells Fargo Clearing Services (CRD #: 19616) 
• PNC Investments (CRD #: 129052) 
• Chase Investment Services (CRD #: 25574) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help

If you worked with Joe Gutierrez and 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.