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Investor Alleges Larry Ware Recommended Unsuitable Structured Products

Larry Ware (CRD #: 3053841), a broker registered with Avantax Investment Services, allegedly gave unsuitable investment recommendations, according to his BrokerCheck record, accessed on May 16, 2023. Investors may have also worked with him through Avantax Advisory Services. Keep reading to learn more about his alleged conduct as a broker.

Investor Dispute

On April 5, 2023, an investor alleged that Larry Ware made unsuitable recommendations of structured products between August 2021 and May 2022. The client alleged that these products were not suitable for their risk tolerance. This dispute is currently pending.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to suit investors’ profiles. These profiles describe an investor’s age, tax status, and other characteristics.

Investors who rely on their broker for recommendations may be able to recoup their losses through FINRA arbitration.

What are Structured Products?

Structured products are a type of financial product that combine the features of a bond with a derivative component, which may be swaps, futures, or options. Investors’ returns depend on the performance of this derivative component.

The complexity of structured products makes it vital for investors to understand their features and risks before buying in.

Background Information

Larry Ware 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 7 – General Securities Representative Examination
  • Series 26 – Investment Company Products/Variable Contracts Principal Examination

Larry Ware is a registered broker in ten states and a registered investment adviser in North Carolina.

He has also worked for the following firms:

  • LPL Financial (CRD#:6413)
  • IFG Advisory (CRD#:168012)
  • SunTrust Investment Services (CRD#:17499)
  • NCF Financial Services (CRD#:120471)
  • Edward Jones (CRD#:250)

Kurta Law Can Help

If you worked with Larry Ware 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 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.