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Kirk Balin Subject of $400,000 Investor Dispute

Kirk Balin (CRD #: 4590715), a broker registered with LPL Financial, is the subject of an investor dispute, according to his BrokerCheck record, accessed on August 15, 2023. Keep reading if you have concerns about his conduct as a broker. 

On July 13, 2023, an investor alleged that Kirk Balin recommended an unsuitable portfolio of investments from 2016 thru 2023. The investor is seeking $400,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, and financial goals. 

  • Investments can be unsuitable because they are high-risk and likely to lose money.
  • Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
  • Securities can be quantitatively unsuitable, which means that brokers executed an excessive number of trades.
  • These requirements apply to the overall investment strategy as well as the investments themselves. 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 pursue FINRA arbitration to recover their losses.

Background Information 

Kirk Balin has passed the following exams: 

  • Series 66 Uniform Combined State 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 

He is a registered broker in 17 states and is a registered investment adviser in Texas and Washington. 

Kirk Balin has registered with the following firms: 

  • LPL Financial (CRD #: 6413) 
  • Householder Group Estate & Retirement Specialists (CRD #: 169045) 
  • Householder Group Financial Advisors (CRD #: 149564) 
  • Securities Service Network (CRD #: 13318) 
  • Householder Group, Estate & Retirement Specialists (CRD #: 107773) 
  • SagePoint Financial (CRD #: 133763) 
  • Collier & Associates Financial Group (CRD #: 113905) 
  • SunAmerica Securities (CRD #: 20068) 
  • Edward Jones (CRD #: #250) 

Kurta Law Can Help

If you worked with Kirk Balin 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.