Investors Seek $1 Million in Suitability Dispute with John Marcheso
John Marcheso (CRD #: 869337), a broker registered with Centaurus Financial, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on July 13, 2022. Keep reading if you have questions about his conduct as a broker.
Investors filed a dispute on May 9, 2022, alleging that John Marcheso over-concentrated their accounts and recommended unsuitable, high-risk, and illiquid investments from 2013 to 2022. They seek $1,000,000 in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Brokers must take into account the information described in an investor’s profile, such as their age, risk tolerance, and tax status.
Brokers must also ensure that any investment strategies they recommend are suitable, too. Over-concentration is an unsuitable strategy for many investors due to the degree of risk involved.
Investors who believe their losses were caused by an unsuitable investment strategy may be able to recover their funds through FINRA arbitration.
John Marcheso 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 62 – Corporate Securities Limited Representative Examination
- Series 22 – Direct Participation Programs Representative Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
- Series 52 – Municipal Securities Representative Examination
- Series 26 – Investment Company Products/Variable Contracts Principal Examination
John Marcheso is a registered broker and a registered investment adviser in Florida, Idaho, and Washington.
He has also worked for NYLIFE Securities (CRD#:5167).
Kurta Law Can Help
If you worked with John Marcheso and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.