Kurt Cambier Facing Allegations of Commission Abuse
Kurt Cambier (CRD #: 1392482), a broker registered with Cambridge Investment Research, has a new investor dispute on his BrokerCheck record, accessed on July 28, 2023. Details are provided below.
On May 11, 2023, investors alleged that Kurt Cambier recommended an investment for the sake of high commissions and fees. They further alleged that the investors were deprived of the ability to generate reasonable returns that they would have in a diversified portfolio.
On December 31, 2021, an investor alleged that Kurt Cambier recommended investments that were not suitable for their needs. The investor sought $125,000 and the dispute settled for $67,500.
FINRA Rule 2111 – Suitable Investments
FINRA Rule 2111 requires brokers to evaluate whether an investment fits their investor’s financial goals. Higher-risk investments typically feature bigger commissions for brokers. Brokers may engage in commission abuse and recommend high-risk investments for the sake of their own financial gain, without consideration for their client’s risk tolerance. Investment strategies may also be unsuitable if they over-concentrate a portfolio in a particular stock or sector. Diversification helps lower a portfolio’s overall risk.
These types of unsuitable investment recommendations violate FINRA Rule 2111.
Kurt Cambier has passed the following exams:
- 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
He is a registered broker in 36 states and a registered investment adviser in Colorado and Texas.
Kurt Cambier has registered with the following firms:
- Multi-Financial Securities Corporation (CRD #: 10209)
- MML Investors Services (CRD #: 10409)
- G.R. Phelps & Co. (CRD #: 173)
- Amev Investors (CRD #: 421)
- Pruco Securities Corporation (CRD #: 5685)
Kurta Law Can Help
If you worked with Kurt Cambier and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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.