Lawrence Nagel Allegedly Recommended Unsuitable Investments

Lawrence Nagel (CRD #: 3040736), a broker registered with Merrill Lynch, Pierce, Fenner & Smith, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on June 7, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Allegations 

On May 6, 2024, investors alleged that Lawrence Nagel recommended unsuitable investments and made misrepresentations. The investor is seeking $50,000. 

There are similar allegations dated April 29, 2024. 

On March 11, 2021, an investor alleged that Lawrence Nagel recommended an unsuitable investment and omitted a material fact. The dispute settled for $50,000. 

FINRA Rule 2020 – Misrepresentation

FINRA Rule 2020 prohibits the misrepresentation of investments and omission of material facts. Material facts include information about an investment’s potential returns, as well as charges, expenses, and fees.

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 Nagel has passed the following exams: 

• Series 65 Uniform Investment Adviser Law Examination 
• Series 63 Uniform Securities Agent State Law Examination 
• Series 52TO Municipal Securities Representative Examination 
• SIE – Securities Industry Essentials Examination 
• Series 31 Futures Managed Funds Examination 
• Series 3 National Commodity Futures Examination
• Series 7 General Securities Representative Examination 
• Series 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination 
• Series 4 Registered Options Principal Examination 
• Series 53 Municipal Securities Principal Examination 
• Series 24 General Securities Representative Examination 

He is a registered broker in 41 states, D.C., and Puerto Rico. He is a registered investment adviser in Kentucky and Texas. 

During his 25 years of experience, Lawrence Nagel has registered with four firms: 

• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 
• Banc of America Investment Services (CRD #: 16361) 
• UBS Painewebber (CRD #: 8174) 
• Sands Brothers (CRD #: 26816) 

Kurta Law Can Help 

If you have worked with Lawrence Nagel 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.