Investor Alleges Josh Biering Made Unsuitable Investment Recommendation

Josh Biering (CRD #: 6883842), a broker registered with J.P. Morgan Securities, was involved in a recent dispute, according to his BrokerCheck record, accessed on June 26, 2022. Keep reading if you have questions about Josh Biering’s conduct as a broker.

Investor Dispute

On April 13, 2022, an investor alleged that Josh Biering recommended an unsuitable mutual fund investment on January 26, 2022. The client sought $109,697.16 but the dispute was denied by the firm.

However, investors should be aware that firms can deny disputes without a third-party review. Investors may still be able to recoup their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age. 

Securities may be unsuitable because they are high-risk or illiquid, leading to losses and/or high fees for the investor. Investments can also be quantitatively unsuitable, meaning that the broker “churned” or excessively traded the securities, generating commissions and fees that cut into clients’ returns.

Investment strategies must also be suitable for the client. A common unsuitable investment strategy is over-concentration, which can increase the risk for an investor beyond what is appropriate for their financial goals.

Background Information

Josh Biering has passed the following exams:

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

Josh Biering is a registered broker in all 50 states, as well as the District of Columbia, Puerto Rico, and the Virgin Islands.

Kurta Law Can Help

If you worked with Josh Biering 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.