Lisa Mantei Allegedly Recommended Unsuitable Investments

Lisa Mantei (CRD #: 2230735), a broker registered with Centaurus Financial, is the subject of a new suitability dispute. This disclosure appears in her BrokerCheck record, accessed on August 22, 2023. Brokers who have questions about her alleged conduct as a broker should keep reading. 

On June 14, 2023, an investor alleged that Lisa Mantei recommended risky, complex, long-term, and illiquid investments. These types of investments are unsuitable for most investors and may violate FINRA Rule 2111. The investor is seeking $200,000. 

Another suitability dispute on Lisa Mantei’s record from September 11, 2019, settled for $55,000. 

FINRA Rule 2111 – Unsuitable Investments 

FINRA Rule 2111 defines suitable investments as securities that fit an investor’s profile. Investor profiles have information on the investor’s age, risk tolerance, tax status, and financial goals. 

• Investments can be unsuitable because they are risky or complex and likely to lose money.
• Securities may also be unsuitable because they are illiquid, meaning that they are intended to be held for an extended time, and investors may have to pay high fees to cash out.
• Securities can be quantitatively unsuitable, which means that brokers execute an excessive number of trades.
• These requirements apply to the overall investment strategy as well as the investments themselves. For instance, an investment strategy might be unsuitable if the securities are overconcentrated in a particular stock or sector.

Investors who rely on brokers for investment recommendations can pursue FINRA arbitration to recover their losses.

Background Information 

Lisa Mantei 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 

She is a registered broker in 16 states and is a registered investment adviser in 17 states. 

Lisa Mantei has registered with the following firms: 

• Centaurus Financial (CRD #: 30833) 
• JP Turner & Company (CRD #: 43177) 
• Gunnallen Financial (CRD #: 17609) 
• First Allied Securities (CRD #: 32444) 
• D.E. Frey & Company (CRD #: 23595) 
• A.G. Edwards & Sons (CRD #: 4) 

Kurta Law Can Help

If you worked with Lisa Mantei and you 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.