John Friedman Allegedly Recommended an Unsuitable Investment

John Friedman (CRD #: 2334065), a broker registered with JP Morgan, is facing an investor dispute, according to his BrokerCheck record, accessed on July 31, 2023. Keep reading for more details. 

On May 4, 2023, an investor alleged that John Friedman recommended an unsuitable investment. The alleged activity took place between April 28, 2020, and May 9, 2023. The investor is seeking $87,000. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals.

• Investments can be unsuitable because they are high-risk and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

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

Background Information

John Friedman 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 

He is a registered broker in 39 states and is a registered investment adviser in New York and Texas. 

John Friedman has registered with the following firms: 

• Morgan Stanley Smith Barney (CRD #: 149777)
• CitiGroup Global Markets (CRD #: 7059) 
• Cowen & Co. (CRD #: 1541) 

Kurta Law Can Help

If you worked with John Friedman 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.