Victim of Financial Fraud? Call Now
Home » Broker Blog » John Prokos: Allegations of Unsuitable Investment Recommendations

John Prokos: Allegations of Unsuitable Investment Recommendations

John Prokos (CRD #: 1553091), a broker registered with LPL Financial, is involved in an investor dispute, according to his BrokerCheck record, accessed on August 16, 2021. He also offers advisory services through Lucia Capital Group. Investors concerned about Prokos’ conduct as a broker should keep reading.

On June 12, 2021, an investor alleged that John Prokos did not disclose the potential risks of an illiquid investment. The investor further alleged that the investment was not suitable based on their risk tolerance. FINRA requires that brokers only recommend investments that fit the investor’s risk tolerance as well as their financial goals, age, and investing time horizon.

John Prokos Background Information

John Prokos has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination
  • Series 24 General Securities Principal Examination

He is a registered broker in 24 states and is a registered investment adviser in California, Florida, and Texas.

John Prokos has worked with the following firms:

  • LPL Financial (CRD #: 6413)
  • Lucia Securities (CRD #: 37179)
  • Lucia Capital Group (CRD #: 152396)
  • Raymond J. Lucia Companies (CRD #: 115670)
  • First Allied Securities (CRD #: 32444)
  • Securities America Advisors (CRD #: 110518)
  • Raymond J. Lucia Companies (CRD #: 115670)
  • RJL Advisors (CRD #: 128074)
  • FSC Securities Corporation (CRD #: 7461)
  • Securities America (CRD #: 10205)
  • Mutual Service Corporation (CRD #: 4806)
  • Lowry Financial Services Corporation (CRD #: 7261)

Kurta Law Can Help

If you worked with John Prokos and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email jkurta@kurtalawfirm.com.

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories