Leonard Nelson Subject of Alternative Investment Dispute

Leonard Nelson (CRD #: 1336235), a broker registered with Securities America, is the subject of an investor dispute. This customer dispute appears on his BrokerCheck record, accessed on September 22, 2023. Details concerning this dispute are provided below.

On July 18, 2023, an investor named Leonard Nelson in an investor dispute. The investor alleged negligence and breach of fiduciary duty related to an alternative investment. Alternative investments are high-risk and do not suit most investors’ needs. The investor is seeking $50,000. 

Negligence

Many types of broker misconduct may qualify as negligence. Typical examples include unsuitable investment recommendations, misrepresentations or omissions of material fact, and failure to follow instructions.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Negligence violates this rule. 

Fiduciary Duties

Brokers are often dually registered as Registered Investment Advisers (RIAs) with the SEC. RIAs are fiduciaries, and fiduciaries are required to act in their clients’ best interests. Brokers are not fiduciaries but must abide by FINRA Rule 2111 and Regulation Best Interest. (To learn more about the differences between brokers and Registered Investment Advisers, click here.) 

Background Information 

Leonard Nelson 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 9 General Securities Sales Supervisor – Options Module Examination 
• Series 10 General Securities Sales Supervisor – General Module Examination
• Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module) 

He is a registered broker in 16 states and is a registered investment adviser in Oregon and Texas. 

Leonard Nelson has registered with the following firms: 

• Securities America (CRD #: 10205) 
• Arbor Point Advisors (CRD #: 165127) 
• Securities America Advisors (CRD #: 110518) 
• KMS Financial Services (CRD #: 3866) 
• Charles Schwab (CRD #: 5393) 
• Financial Network Investment Corporation (CRD #: 13572) 
• BA Investment Services (CRD #: 12965) 
• Fidelity Brokerage Services (CRD #: 7784) 

Kurta Law Can Help

If you worked with Leonard Nelson and 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 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.