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Kent Herring Allegedly Recommended Unsuitable Investment Strategy

May 5, 2023 Unsuitable Investments

Kent Herring (CRD #: 5417262), a broker registered with Cambridge Investment Research, allegedly recommended an unsuitable investment strategy, according to his BrokerCheck record, accessed on April 27, 2023. Investors may have also engaged his services through Cambridge Investment Research Advisors. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On March 2, 2023, an investor alleged that Kent Herring recommended an unsuitable investment strategy involving risky, complex, and high-commission products. The client seeks $750,000 in damages in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to recommend securities that sufficiently suit an investor’s financial goals. Brokers must take into account an investor’s age, risk tolerance, and other information described in their profile.

These requirements apply to a broker’s overall investment strategy as well as individual recommendations. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Kent Herring 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 6 – Investment Company Products/Variable Contracts Representative Examination

Kent Herring is a registered broker in 11 states and a registered investment adviser in Florida and Texas.

He has also worked for Voya Financial Advisors (CRD#:2882).

Kurta Law Can Help

If you worked with Kent Herring and you 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 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.