Investor Alleges Kyle Hitchcock Recommended Unsuitable Mutual Fund

Kyle Hitchcock (CRD #: 5167423), a broker registered with J.P. Morgan Securities, was involved in a recent dispute, according to his BrokerCheck record, accessed on June 26, 2022. Keep reading to learn more about Kyle Hitchcock’s conduct as a broker.

Alleged Unsuitable Investment Recommendation

On April 13, 2022, an investor alleged that Kyle Hitchcock unsuitably recommended a mutual fund investment on January 26, 2022. The client sought $109,697.16 but the dispute was denied by the firm.

Investors should know, however, that firms don’t need to allow an external review before denying a dispute. Investors may still be able to recover their losses by pursuing FINRA arbitration after a denial.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account investors’ financial goals when recommending investments. Brokers must examine the information contained in an investor’s profile, such as their tax status, risk tolerance, and overall financial situation.

Common ways for securities to be unsuitable include being high-risk, illiquid, or over-concentrated in a particular stock or sector. Investments can also be quantitatively unsuitable, meaning that the broker conducted an excessive number of trades, generating commissions and fees that reduce clients’ returns.

Investors who rely on brokers for investment recommendations can potentially recover their losses by pursuing FINRA arbitration.

Background Information

Kyle Hitchcock has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 3 – National Commodity Futures Examination

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

In the past, he worked for UBS Financial Services (CRD#:8174) and Goldman, Sachs & Company (CRD#:361).

Kurta Law Can Help

If you worked with Kyle Hitchcock 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.