Investor Alleges John Alcantara’s Advice Led to Losses

John Alcantara (CRD #: 5658289), a broker registered with Northwestern Mutual Investment Services, was involved in a recent investor dispute, according to his BrokerCheck record, accessed on May 24, 2023. If you want to know more about his alleged conduct as a broker, read on.

Investor Dispute

On March 28, 2023, an investor alleged that John Alcantara provided poor advice which resulted in losses in the client’s accounts. This dispute was denied by the firm.

However, investors should be aware that firms don’t need to permit an outside review before denying a dispute. Investors can still pursue FINRA arbitration and may be able to recoup their losses following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles contain information such as investors’ tax status, risk tolerance, and investment goals.

These requirements also apply to investment strategies. For instance, overconcentration in a single stock or sector may be an unsuitable strategy for an investor with a limited risk tolerance.

Investors who rely on brokers for recommendations may be able to recover their losses through FINRA arbitration.

FINRA Rule 2010

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

Background Information

John Alcantara 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
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

John Alcantara is a registered broker in 16 states and a registered investment adviser in Nevada.

Kurta Law Can Help

If you worked with John Alcantara 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.