Kurt Kechely Allegedly Recommended Unsuitable Investments

Kurt Kechely (CRD #: 1964761), a previously registered broker with Securities America, is the subject of an investor dispute. This dispute appears on his BrokerCheck record, accessed on September 20, 2023. Details concerning this dispute are provided below. 

On July 21, 2023, investors alleged that Kurt Kechely recommended unsuitable investments and that the investors could not understand the investment risks. The investor is seeking $50,000. 

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 losses from unsuitable investment recommendations 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 

Kurt Kechely 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 has registered with the following firms: 

• Securities America (CRD #: 10205) 
• Summit Brokerage Services (CRD #: 34643) 
• VSR Financial Services (CRD #: 14503) 
• Investors First Securities (CRD #: 14754) 
• Fortis Investors (CRD #: 421) 

Kurta Law Can Help

If you worked with Kurt Kechely 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.