Lefranc Joseph Involved in Unsuitability Dispute

Lefranc Joseph (CRD #:6092379), a broker registered with David Lerner Associates, is involved in an unsuitability dispute, according to his BrokerCheck record accessed on March 12, 2022. 

On November 15, 2021, Lefranc Joseph was involved in an investor dispute alleging unsuitability and omissions. The investor is seeking $150,000一the case is still pending.

BrokerCheck does not provide details regarding the nature of the investment; however, brokers who recommend a security or investment are subject to FINRA rules and regulations. These include:

• FINRA Rule 2111, which requires registered brokers to have a “reasonable basis” to believe that a recommended transaction or investment strategy suits their client’s needs.
• FINRA Rule 2020, which prohibits brokerage firms and stockbrokers from making material misrepresentations or inducing people into buying investments with false statements about their potential benefits. 
• Lefranc Joseph’s alleged unethical conduct may also violate FINRA Rule 2010, which states that brokers must uphold high standards of commercial honor.

Background Information

Lefranc Joseph has passed the following exams:

• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

Lefranc Joseph is a registered broker in 16 states.

Besides David Lerner Associates, Lefranc Joseph has also worked with NYLIFE Securities (CRD#:5167).

Kurta Law Can Help

If you have worked with Lefranc Joseph and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or 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 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. Please reach out if you have any questions about what steps to take next to recover your investment losses.