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Karry Maciak is the Subject of an Investor Dispute

Karry Maciak (CRD #: 4332863), a broker registered with LPL Financial, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on December 6, 2023. Keep reading if you have questions about this dispute. 

On December 23, 2023, an investor alleged that Karry Maciak recommended unsuitable REITs. The investor is seeking $60,000. 

On September 21, 2023, an investor alleged that Karry Maciak misrepresented unsuitable investments. The dispute was denied by the firm, but investors should know that they can still recover losses following a denial. 

What Are REITs? 

A real estate investment trust (REIT) allows investors to pool their funds together in a portfolio of real estate and earn returns without the responsibility of managing the properties themselves. 

However, the lack of liquidity associated with REITs may make them unsuitable for some investors.

What Makes an Investment Unsuitable? 

FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:

  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status
  • Financial goals

Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information 

Karry Maciak 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 
  • Series 24 General Securities Principal Examination 

She is a registered broker in 13 states and is a registered investment adviser in California and Texas. 

Karry Maciak has registered with the following firms: 

  • LPL Financial (CRD #: 6413) 
  • BancWest Investment Services (CRD #: 29357) 
  • Chase Investment Services Corp. (CRD #: 25574) 
  • WAMU Investments (CRD #: 599) 
  • Wachovia Securities (CRD #: 19616) 
  • Atlas Securities (CRD #: 20991) 
  • UBS Painewebber (CRD #: 8174) 

Kurta Law Can Help 

If you have worked with Karry Maciak and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.