Investors Seek Six Figures in Suitability Disputes with Larry Burton

Larry Burton (CRD #: 4297802), a broker registered with Western International Securities, is the subject of two pending investor disputes, according to his BrokerCheck record, accessed on April 7, 2023. Read on if you have questions about his conduct as a broker.

Investor Dispute

In a dispute filed on December 15, 2022, an investor alleged that Larry Burton engaged in misconduct involving negligence and suitability. They seek $130,000 in this pending dispute.

On July 27, 2022, Larry Burton was named in a dispute alleging a violation of the suitability rule. The client seeks $379,250 in this pending dispute.

FINRA Rule 2111

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. These profiles describe client characteristics such as their age, financial goals, and tax status.

Securities may be unsuitable because they are high-risk and more likely to incur losses, illiquid and difficult to sell on short notice, or otherwise fail to match an investor’s needs and limitations.

Investments can also be quantitatively unsuitable. Excessive trading generates trading fees and commissions that can severely cut into clients’ returns.

Suitability also applies to investment strategies. One example of a potentially unsuitable investment strategy is overconcentration, which can expose investors to a level of risk beyond what their profile allows.

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

Background Information

Larry Burton has passed the following exams:

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

Larry Burton is a registered broker in California, Nevada, Oregon, and Virginia. He is also a registered investment adviser in California.

He has also worked for the following firms:

• Citigroup Global Markets (CRD#:7059)
• Citicorp Investment Services (CRD#:23988)
• Merrill Lynch Pierce Fenner & Smith (CRD#:7691)

Kurta Law Can Help

If you worked with Larry Burton 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.