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John Rietz Subject of Customer Complaint Involving Unsuitable Insurance Policy

May 20, 2022 Unsuitable Investments

John Rietz (CRD #: 2630099), a broker registered with PNC Investments, allegedly recommended an unsuitable insurance policy, according to his BrokerCheck record, accessed on May 15, 2022. Read on if you have questions about John Rietz’s conduct as a broker.

Investor Dispute

On March 3, 2020, a customer complaint originally filed with Pacific Life was forwarded to PNC Investments. The client alleges John Rietz recommended an unsuitable insurance policy issued by Pacific Life in August of 2020. This dispute was denied by the firm.

However, investors should be aware that firms do not need to allow an external review before denying a dispute. Investors can still pursue FINRA arbitration to recoup their losses following a denial.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers recommend investments that match investors’ profiles. These profiles contain client information such as their age, tax status, and other investments.

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

Background Information

John Rietz 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

John Rietz is a registered broker in 30 states and a registered investment adviser in Arizona.

He has also worked for the following firms:

  • PNC Managed Account Solutions (CRD#:110476)
  • Wells Fargo Advisors (CRD#:19616)
  • BBVA Securities (CRD#:27060)
  • BBVA Wealth Solutions (CRD#:110476)
  • BBVA Compass Investment Solutions (CRD#:17086)
  • ST Johns Wealth Management (CRD#:105564)
  • H&R Block Financial Advisors (CRD#:5979)
  • Citigroup Global Markets (CRD#:7059)
  • Piper Jaffray (CRD#:665)

Kurta Law Can Help

If you worked with John Rietz and you 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 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.