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Larry Sfinas Allegedly Recommended Unsuitable Investments

Jul 8, 2022 Unsuitable Investments

Larry Sfinas (CRD #: 419396), a broker formerly registered with Securities America, is the subject of a pending dispute, according to his BrokerCheck record, accessed on July 1, 2022. Keep reading to learn more about Larry Sfinas’s conduct as a broker.

Investor Dispute

On April 8, 2022, an investor alleged that Larry Sfinas provided unsuitable investment recommendations that resulted in losses. This dispute is pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take into account an investor’s financial goals when recommending securities. Brokers must consider the characteristics described in their client’s profile, including:

  • Age
  • Financial goals
  • Risk tolerance
  • Time horizon (i.e., how long the investment will be held)
  • Investing experience
  • Tax status

Investors may be able to recover funds lost through unsuitable investment recommendations by pursuing FINRA arbitration.

Background Information

Larry Sfinas 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 1 – Registered Representative Examination

He has also worked for the following firms:

  • Securities America (CRD#:10205)
  • Fortune Financial Services (CRD#:42150)
  • Innovation Partners (CRD#:146344)
  • United Planners’ Financial Services of America (CRD#:20804)
  • SCF Securities (CRD#:47275)
  • Ausdal Financial Partners (CRD#:7995)
  • American Portfolios Financial Services (CRD#:18487)
  • ING Financial Partners (CRD#:2882)
  • USAllianz Securities (CRD#:40875)
  • Northwestern Mutual Investment Services (CRD#:2881)
  • Robert W. Baird & Company (CRD#:8158)
  • Cardell & Associates (CRD#:7700)
  • NML Equity Services (CRD#:2881)
  • John Hancock Distributors (CRD#:468)
  • John Hancock Mutual Life Insurance Company (CRD#:5181)
  • Travelers Equities Sales (CRD#:833)

Kurta Law Can Help

If you worked with Larry Sfinas 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.