Kim Schardan Allegedly Recommended Unsuitable Investments

Kim Schardan (CRD #: 2899625), a previously registered broker with Infinex Investments, is the subject of an investor dispute. This disclosure appears on her BrokerCheck record, accessed on August 30, 2023. 

On June 1, 2023, an investor alleged that Kim Schardan recommended unsuitable investments for their profile. The investor is seeking $190,000. 

What is an Unsuitable Investment?

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 their losses by pursuing FINRA arbitration.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. A violation of FINRA Rule 2111 is also a violation of FINRA Rule 2010. 

Background Information

Kim Schardan has passed the following exams: 

• Series 66 Uniform Combined State Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 7TO General Securities Representative Examination 
• Series 6TO Investment Company Products/Variable Contracts Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 7 General Securities Representative Examination 
• Series 6 Investment Company Products/Variable Contracts Representative Examination 
• Series 51 Municipal Fund Securities Principal Examination 
• Series 26 Investment Company Products/Variable Contracts Principle Examination 

Kim Schardan has registered with the following firms: 

• Infinex Investments (CRD #: 35371)
• Edward Jones (CRD #: 250) 
• Cetera Investment Services (CRD #: 15340) 
• PNC Investments (CRD #: 129052) 
• Wells Fargo Advisors (CRD #: 19616) 
• CUNA Brokerage Services (CRD #: 13941) 
• U.S. Bancorp Investments (CRD #: 17868) 
• PNC Investments (CRD #: 129052) 
• NatCity Investments (CRD #: 17490) 
• AllState Financial Services (CRD #: 18272) 
• Firstar Investment Services (CRD #: 14536) 
• First Brokerage America (CRD #: 43431) 
• Associated Investment Services (CRD #: 1464) 
• Essex National Securities (CRD #: 25454) 

Kurta Law Can Help

If you worked with Kim Schardan 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 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.