Victim of Financial Fraud? Call Now
Home » Broker Blog » Investor Alleges Joshua Westerman Purchased Unsuitable Structured Products

Investor Alleges Joshua Westerman Purchased Unsuitable Structured Products

Joshua Westerman (CRD #: 6838471), a broker registered with Morgan Stanley, allegedly purchased unsuitable investments for a client, according to his BrokerCheck record, accessed on September 12, 2022. Read on to learn more about his conduct as a broker.

Investor Dispute

On May 31, 2022, an investor alleged that Joshua Westerman purchased unsuitable structured products in his account in 2021. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to fit their client’s profiles. An investor’s profile contains information about their other investments, risk tolerance, and financial goals.

Investors who rely on brokers for recommendations may be able to recover their losses by seeking out FINRA arbitration.

What are structured products?

Structured products are securities that feature a bond and a derivative. A structured product’s returns are dependent on the performance of its derivative component—which might be a swap, a future, or an option.

Because of their complexity and associated risks, structured products may not be suitable for many investors.

Background Information

Joshua Westerman has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

Joshua Westerman is a registered broker in 31 states, the District of Columbia, Puerto Rico, and the Virgin Islands. He is also a registered investment adviser in Florida and Texas.

Kurta Law Can Help

If you worked with Joshua Westerman 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. 

 

Recent Results

$16.75M

Million

Recovery for ARC NYC REIT Investors
Learn More
Kurta Law recovered millions of dollars for investors who purchased the speculative and unsuitable ARC NYC REIT. The arbitration settled for substantially more than the investor losses.

Recent Results

$9.3M

Million

Investors Receive Award for More than their Losses
Learn More
Jonathan Kurta was able to recover over $9.3 million for a group of defrauded investors. The claims were based upon the brokerage firm’s failure to supervise a stockbroker who stole client funds and then prepared and disseminated fake account statements for decades.

Recent Results

$7.1M

Million

Elderly Victims Recover After a Decade of Fraud
Learn More
Jonathan Kurta represented a group of elderly women who were the victims of a financial crime perpetrated by a rogue broker. The broker utilized forged documents to steal funds from the clients’ accounts over a decade.

Recent Results

$4.2M

Million

Investor vs. Royal Alliance
Learn More
Jonathan Kurta represented an investor who alleged that Royal Alliance Associates had not fulfilled their supervisory duties. This allegedly allowed brokers to engage in conversion and RICO violations. Read a copy of the award here.

Recent Results

$1M

Million

Utah Firm Executed Unnecessary Transaction
Learn More
A FINRA panel sided with Kurta Law and found that a Utah brokerage firm executed unnecessary transactions in order to generate more commissions. Read a copy of the award here.

Recent Results

$2M

Million

Arizona Investors Options Trading Scam
Learn More
Kurta Law negotiated a $2 million settlement on behalf of Arizona investors who were defrauded in an options trading scam.

Categories