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Kordel Drake Allegedly Failed to Follow Instructions

Aug 31, 2022 Investor Disputes

Kordel Drake (CRD #: 2637927), a broker registered with Charles Schwab & Company, allegedly failed to follow a client’s instructions, according to his BrokerCheck record, accessed on August 6, 2022. If you want to learn more about his conduct as a broker, read on.

Investor Dispute

On May 25, 2022, an investor alleged that Kordel Drake failed to follow instructions on April 21, 2020, concerning his request to close his futures contract(s) position. The client seeks $500,000 in this pending dispute.

FINRA Rule 2010

Failure to follow instructions violates FINRA Rule 2010, which holds brokers to high standards of professional honor.

What is a futures contract?

A futures contract is a complex type of investment that bets on the future performance of an asset or commodity. With a futures contract, the investor has the right to purchase or sell that underlying asset at a specific price and point in time.

The complexity and speculative nature of futures contracts makes them an unsuitable investment for most investors.

Background Information

Kordel Drake has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 3 – National Commodity Futures Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 10 – General Securities Sales Supervisor – General Module Examination
  • Series 9 – General Securities Sales Supervisor – Options Module Examination

Kordel Drake is a registered broker in all 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands.

He has also worked for OptionsXpress (CRD#:103849) and Pruco Securities (CRD#:5685).

Kurta Law Can Help

If you worked with Kordel Drake 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.