John Hervig Facing a Six-Figure Investor Dispute

John Hervig (CRD #: 2973513), a broker registered with Fidelity Brokerage Services, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on September 26, 2023. Keep reading if you have questions. 

On July 12, 2023, an investor named John Hervig in a dispute. The dispute alleged that a supervisor failed to supervise a broker. The investor further alleged the broker made an unsuitable recommendation to transfer an annuity that caused a tax event. The investor is seeking $184,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

• Age
• Risk tolerance
• Time horizon (i.e., how long the investor plans to hold the investment)
• Investing experience
• Tax status
• Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

FINRA Rule 3110 – Supervision 

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

Background Information 

John Hervig has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 

He is a registered broker with Alabama, Massachusetts, Texas, and Utah. He is also registered as an investment advisor in Alabama and Texas. 

During his 25 years of experience, John Hervig has registered with three firms:

• Fidelity Brokerage Services (CRD #: 7784) 
• Fidelity Personal and Workplace Advisors (CRD #: 288590) 
• Strategic Advisers (CRD #: 104555) 

Kurta Law Can Help

If you worked with John Hervig 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.