John Michael Purzner (CRD #5495527) Has a Customer Dispute Disclosure on FINRA BrokerCheck

John Michael Purzner (CRD #5495527) has a customer dispute listed on FINRA BrokerCheck. We reviewed his BrokerCheck report on January 29, 2026. It reflects one customer dispute. If you invested with John Michael Purzner and have concerns, keep reading.

BrokerCheck link: John Michael Purzner’s FINRA BrokerCheck Profile

BrokerCheck report: John Michael Purzner’s FINRA BrokerCheck Report (PDF)

Investor Disputes / Customer Complaints

John Purzner’s FINRA BrokerCheck Report reflects one customer dispute disclosure. A summary of the dispute is below:

On November 3, 2025, a client alleged John Purzner misappropriated funds from an IRA. The client sought $264,000 in damages. John Purzner’s FINRA BrokerCheck report lists the matter as pending.

Rule Summary #1:

FINRA Rule 2150 bars the improper use of a customer’s securities or funds. Disputes involving misappropriation can raise questions about whether a representative used client money without authorization.

Rule Summary #2:

FINRA Rule 2010 requires members to observe high standards of commercial honor and just and equitable principles of trade. When a dispute alleges misconduct, this rule often frames whether the conduct was ethical.

Why This Matters to Investors (Regulation Best Interest)

Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.

Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.

Reg BI has four key obligations:

1. Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
2. Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
3. Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
4. Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.

Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.

Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.

Background Information (from BrokerCheck)

Based on His FINRA BrokerCheck report, John Purzner:

Is listed with a FINRA BrokerCheck profile for additional registration details.

Investors can review the BrokerCheck report for exam history and prior registrations.

BrokerCheck also provides employment history and disclosure details as reported to CRD.

Kurta Law Can Help

If you have worked with John Purzner and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Stockbroker Theft: How Conversion Gets Caught | 8 Common Types of Stockbroker Fraud

For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.