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Investor Alleges John Turner Made Unsuitable Investment Recommendation

Aug 29, 2022 Unsuitable Investments

John Turner (CRD #: 4831861), a broker registered with Avantax Investment Services, allegedly made an unsuitable investment recommendation, according to his BrokerCheck record, accessed on August 14, 2022. Investors may also have worked with him through Avantax Advisory Services. If you want to know more about his conduct as a broker, keep reading.

Investor Dispute

On May 16, 2022, an investor alleged that John Turner recommended an unsuitable investment. The client seeks $50,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Brokers must examine the characteristics described in their client’s profile, including the following: 

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

FINRA Rule 2010

Violating state insurance requirements violates FINRA Rule 2010. FINRA Rule 2010 requires brokers to uphold high standards of commercial honor and just and equitable principles of trade.

Background Information

John Turner 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

John Turner is a registered broker in six states and a registered investment adviser in Texas.

Kurta Law Can Help

If you worked with John Turner 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.