Joel Gervais Chouinard (CRD #6936071) Has a Customer Dispute Disclosure on FINRA BrokerCheck

Joel Gervais Chouinard (CRD #6936071) was previously registered as a broker and has a customer dispute disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 17, 2026. It reflects one customer dispute. If you worked with Joel Gervais Chouinard and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

Joel Chouinard’s FINRA BrokerCheck report reflects one customer dispute disclosure. A summary of the dispute is below:

According to Joel Chouinard’s FINRA BrokerCheck report, customers alleged they were misled in connection with two variable universal life insurance policies purchased for their children in May 2023. They said the policies did not meet their goals and cash-flow needs and asked for the return of principal without surrender charges. The matter settled on February 25, 2026, for $8,224.04. Joel Chouinard stated he was not named in the written complaint, denied the allegations, and did not contribute to the settlement.

Rule Summary #1: FINRA Rule 2111 (Suitability)

FINRA Rule 2111 (Suitability) requires a broker to have a reasonable basis to believe a recommendation fits the customer’s investment profile. Complaints about variable universal life policies can raise questions about whether the product matched the investor’s goals, liquidity needs, and risk tolerance.

Rule Summary #2: FINRA Rule 3110 (Supervision)

FINRA Rule 3110 (Supervision) requires firms to maintain a supervisory system reasonably designed to achieve compliance with securities laws and FINRA rules. When a customer says a complex insurance-based securities product was not explained or monitored properly, supervision can become part of the review.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.

2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.

3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.

4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on Joel Chouinard’s FINRA BrokerCheck report, Joel Chouinard:

Is not currently registered as a broker.

Has passed the Securities Industry Essentials (SIE) exam. Joel Chouinard has also passed Series 7TO, Series 66, and Series 63.

Was previously registered with NYLife Securities LLC. BrokerCheck also lists SharpEdge Financial, LLC and Eagle Strategies LLC in his recent investment-related employment history.

Kurta Law Can Help

If you have worked with Joel Chouinard and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | Unsuitable Investments

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.