Kurt Stein Involved in Unsuitability Dispute
Kurt Stein (CRD #: 3159180), a broker registered with Quint Capital Corporation, is involved in an investor dispute, according to his BrokerCheck record, accessed on February 10, 2022. He is also an investment advisor registered with Quint Capital Management.
According to the allegations filed on December 16, 2021, Kurt Stein allegedly recommended unsuitable investments. The investor is seeking $300,000—the case is still pending.
What is a Suitable Investment?
FINRA defines suitable investments as securities that fit an investor’s profile. An investor’s profile includes information about their risk tolerance, financial goals, and age.
FINRA Rule 2111 sets out three components of suitability obligations: reasonable-basis suitability, customer-specific suitability, and quantitative suitability.
- Reasonable-basis Suitability: Brokers are required to use reasonable diligence before making a recommendation. This means they have an obligation to understand an investment strategy and its potential risks or rewards.
- Customer-specific Suitability: Before recommending a particular security or investment strategy involving a specific client, brokers are required to have reasonable grounds for believing it will be suitable based on that client’s personal profile. The profile includes information on the investor’s financial goals, investing experience, and risk tolerance.
- Quantitative Suitability: Brokers with control over a customer’s account must have a reasonable basis to believe that the series of transactions they recommend are not excessive before executing them. Excessive transactions run the risk of incurring too many fees and negating any returns.
If you’ve lost money due to your broker’s recommendations, do not hesitate to contact an experienced securities attorney as soon as possible. Kurta Law is a nationally recognized securities law firm with over 20 years of experience litigating securities fraud cases.
Background Information
Kurt Stein has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
- Series 3 – National Commodity Futures Examination
Kurt Stein is a registered broker in four states. He is also a registered investment advisor in Florida.
He has also worked with the following firms:
- Palladium Capital Advisors (CRD#:129400)
- National Asset Management (CRD#:115927)
- National Securities Corporation (CRD#:7569)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)
- Goldman, Sachs & Co. (CRD#:361)
Kurta Law Can Help
If you suffered losses after working with Kurt Stein, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors 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.