Jon Cirelli Allegedly Gave Unsuitable Investment Recommendations
Jon Cirelli (CRD #: 4729737), a broker registered with Great Point Capital, allegedly recommended unsuitable investments, according to his BrokerCheck record, accessed on June 13, 2023. Read on if you want to know more about his alleged conduct as a broker.
Investor Dispute
On March 9, 2021, an investor filed a dispute alleging that Jon Cirelli made unsuitable investment recommendations and engaged in negligence with regard to various investments made from July 2015 to April 2017.
The client sought $2.5 million in damages and received a settlement of $725,000.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. These profiles describe an investor’s tax status, age, and other characteristics.
Investors who rely on brokers for investment recommendations can pursue FINRA arbitration and potentially recover their losses.
What qualifies as broker negligence?
Many types of broker misconduct may qualify as negligence. Common examples include unsuitable investment recommendations, failure to supervise, and misrepresentations or omissions of fact.
Investors who have lost money through broker negligence may be able to recover their funds by seeking out FINRA arbitration.
Background Information
Jon Cirelli 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
Jon Cirelli is a registered broker in 24 states and the District of Columbia.
He has also worked for the following firms:
- Coastal Investment Advisors (CRD#:134952)
- Coastal Equities (CRD#:23769)
- Concorde Asset Management (CRD#:140367)
- Concorde Investment Services (CRD#:151604)
- J.P. Turner & Company (CRD#:43177)
- GunnAllen Financial (CRD#:17609)
Kurta Law Can Help
If you worked with Jon Cirelli 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.