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John Furniss Allegedly Recommended Unsuitable Investments

Aug 31, 2022 Energy Investments

John Furniss (CRD #: 4888498), a broker registered with Lincoln Financial Advisors, is the subject of two pending disputes, according to his BrokerCheck record, accessed on August 5, 2022. Read on to learn more about his conduct as a broker.

Investor Dispute

In 2022, two investors filed disputes alleging that John Furniss recommended an unsuitable oil and gas investment. Both disputes are pending. 

On June 8, 2017, an investor alleged that John Furniss made or recommended unsuitable sales, and failed to disclose facts concerning a third-party managed account, a variable annuity, a real estate investment trust (REIT), and an oil and gas program. The investor alleged this conduct occurred between March 2013 and November 2014. The client received a settlement of $150,000.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to determine whether an investment fits their investor’s financial goals. Brokers must take into account an investor’s risk tolerance, tax status, and other information contained in an investor’s profile when making recommendations.

Investors who believe they have lost money due to unsuitable investment recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2020

Omitting information related to investments violates FINRA Rule 2020, which bans the use of deceptive, manipulative, and otherwise fraudulent tactics to influence the purchase and sale of securities.

What is a real estate investment trust?

Real estate investment trusts (REITs) own and manage portfolios of real estate. Like investing in a mutual fund, REITs allow investors to pool their money into a portfolio they don’t need to manage. However, REITs tend to be illiquid, making them unsuitable for many investors.

Background Information

John Furniss has passed the following exams:

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

John Furniss is a registered broker in 21 states and the District of Columbia. He is also a registered investment adviser in Maryland.

He has also worked for The Lincoln National Life Insurance Company (CRD#:2580).

Kurta Law Can Help

If you worked with John Furniss 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.