Investor Alleges Joseph Brittingham Recommended Unsuitable Investment Strategy

Joseph Brittingham (CRD #: 2853799), a broker registered with LPL Financial, allegedly recommended an unsuitable investment strategy, according to his BrokerCheck record, accessed on October 8, 2022. Keep reading to learn more about his conduct as a broker.

Investor Dispute

On July 27, 2022, an investor alleged that Joseph Brittingham recommended an investment strategy involving a non-traded real estate investment trust (REIT) and a non-traded Business Development Company (BDC) that was unsuitable for the client’s investment objectives and risk tolerance. The client alleged that this occurred between October 2014 and July 2022.

The investor seeks $75,000 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires that brokers tailor their investment recommendations to an investor’s profile. Brokers must consider the following characteristics contained in an investor’s profile:

• 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 brokers for recommendations may be able to recover their losses through FINRA arbitration.

What is a real estate investment trust?

A real estate investment trust (REIT) is a company that owns and operates real estate properties. Investors can pool their money into the REIT and generate returns without taking on direct responsibility for the upkeep of the properties. However, REITs tend to be illiquid and unsuitable for many investors.

What is a business development company?

A business development company (BDC) provides loans to distressed small-to-mid-sized companies. However, while the high interest rates BDCs charge mean higher returns, the risk of the business defaulting on the loan can make BDCs unsuitable for some investors.

Background Information

Joseph Brittingham 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

Joseph Brittingham is a registered broker in 14 states and the District of Columbia. He is also a registered investment adviser in California and Texas.

He previously worked for Edward Jones (CRD#:250).

Kurta Law Can Help

If you worked with Joseph Brittingham 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.