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Kurt Kleinle Allegedly Misrepresented a Variable Annuity

Kurt Kleinle (CRD #: 2472261), a broker registered with J.P. Morgan Securities, has a new investor dispute on his record. This disclosure appears on his BrokerCheck record, accessed on August 14, 2023. Details of this dispute are provided below.

On June 26, 2023, an investor alleged that Kurt Kleinle misrepresented a variable annuity. The alleged activity took place on May 10, 2023. The investor sought $84,000 but the firm denied the dispute. Investors should know, however, that firms can deny disputes without any external review. Following a denial, investors may still be able to recover their funds via FINRA arbitration.

What is a Variable Annuity? 

Variable annuities are complex investments. They are insurance products that come with an investment component. The associated fees, surrender charges, and potential tax liability can negate any supposed benefits they offer. Furthermore, the risk associated with their investments makes them unsuitable for many investors. 

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulation, deception, and other fraudulent methods to influence investors’ decisions. This includes the misrepresentation or omission of material information, such as an investment’s potential returns, risks, or limitations.

Background Information 

Kurt Kleinle 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 31 Futures Managed Funds Examination 
  • Series 7 General Securities Representative Examination 

He is a registered broker in 25 states and is a registered investment adviser in New Jersey and Texas. 

Kurt Kleinle has registered with the following firms: 

  • Janney Montgomery Scott (CRD #: 463) 
  • Dean Witter Reynolds (CRD #: 7556) 

Kurta Law Can Help

If you worked with Kurt Kleinle and you have concerns about your investments, please contact us today at 877-600-0098 or 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.