John McCarthy Facing Allegations of Unsuitable Oil and Gas Investment Recommendations

John McCarthy (CRD #: 2470464), a broker registered with Lincoln Financial Advisors Corporation, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on May 2, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On February 16, 2024, an investor alleged that John McCarthy recommended an unsuitable oil and gas investment. Energy investments are often unsuitable due to their high risk. The investor is seeking $53,000. 

What is an Unsuitable Investment?

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investors’ 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.

Background Information 

John McCarthy 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 

He is a registered broker in 31 states and D.C. He is a registered investment adviser in Maryland and Texas. 

During his 29 years of experience, John McCarthy has registered with two firms: Lincoln Financial Advisors Corporation (CRD #: 3978) and The Lincoln National Life Insurance Company (CRD #: 2580). 

Kurta Law Can Help 

If you have worked with John McCarthy and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.