Lawrence Barrett is the Subject of an Energy Investment Dispute
Lawrence Barrett (CRD #: 13429), a broker registered with Lincoln Financial Advisors Corporation, is the subject of an investor dispute. This disclosure appears on his BrokerCheck record, accessed on May 2, 2024. Investors may have engaged his services via Barrett Wealth Advisors.
Investor Allegations
On February 16, 2024, investors alleged that Lawrence Barrett recommended an unsuitable oil and gas investment. Energy investments are often unsuitable due to their high risk. The investors are seeking $100,000.
There are similar allegations dated January 3, 2023.
What is an Unsuitable Investment?
FINRA Rule 2111 requires brokers to evaluate whether an investment strategy fits their investor’s financial goals. Brokers must examine the investor’s profile, which contains the following investor characteristics:
- Age
- Risk tolerance
- Time horizon (i.e., how long the investor plans to hold the investment)
- Investing experience
- Tax status
- Financial goals
Investors who rely on brokers for recommendations may be able to recover losses from unsuitable investment recommendations by pursuing FINRA arbitration.
Background Information
Lawrence Barrett has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- Series 7TO General Securities Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 1 Registered Representative Examination
- Series 24 General Securities Representative Examination
He is a registered broker in 29 states and is a registered investment adviser in Ohio and Texas.
During his 51 years of experience, Lawrence Barrett has registered with 11 firms. These are the five most recent:
- Lincoln Financial Advisors Corporation (CRD #: 3978)
- The Lincoln National Life Insurance Company (CRD #: 2580)
- Equity Services (CRD #: 265)
- Sun Investment Services Company (CRD #: 5496)
- Investment Management & Research (CRD #: 6694)
Kurta Law Can Help
If you have worked with Lawrence Barrett and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email 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 that 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. Do not let securities fraud go unchecked. Start your recovery process today.