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Joseph Groarke Allegedly Recommended an Overly Risky Investment

Joseph Groarke (CRD #: 2213512), a broker registered with Cetera Advisor Networks, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on October 27, 2023. Keep reading for more details. 

On August 23, 2023, an investor alleged that Joseph Groarke placed her in an investment that was too risky for her stated objectives. This alleged conduct took place from August 5, 2021, through August 17, 2023. The investor sought $52,000 but the dispute was denied by the firm. 

The dispute was denied by the firm, but investors should know that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, investing experience, and financial goals. Investments that do not take these factors into account may be unsuitable

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Violations of FINRA Rule 2111 also violate this rule. 

Background information 

Joseph Groarke has passed the following exams: 

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

He is a registered broker in eight states and is a registered investment adviser in Pennsylvania. 

Joseph Groarke has registered with nine firms during his 31 years of experience: 

  • Cetera Advisor Networks (CRD #: 13572) 
  • Cetera Investment Advisers (CRD #: 105644) 
  • Wells Fargo Clearing Services (CRD #: 19616) 
  • RBC Capital Markets (CRD #: 31194) 
  • Wachovia (CRD #: 19616) 
  • First Union Capital Markets (CRD #: 6124) 
  • A.G. Edwards & Sons (CRD #: 4) 
  • Thomas James Associates (CRD #: 15609) 
  • Hibbard Brown & Co. (CRD #: 18246) 
  • Westfield Financial Corporation (CRD #: 8143) 

Kurta Law Can Help

If you worked with Joseph Groarke and have concerns about your investments, please contact us today at 877-600-0098 or 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 that 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.