Investor Alleges Logan Blewett Made Unsuitable Investment Recommendation
Logan Blewett (CRD #: 6868128), a broker registered with Newedge Securities, is the subject of a pending dispute, according to his BrokerCheck record, accessed on July 30, 2022. Investors may also have engaged his services through Newedge Advisors. Read on to learn more about Logan Blewett’s conduct as a broker.
On June 2, 2022, an investor alleged that Logan Blewett recommended the client sell a fixed rate certificate of deposit in August 2021 and use the proceeds to purchase a municipal bond portfolio.
The client alleges that this recommendation was unsuitable because they did not need tax-free investment income and were unnecessarily exposed to market risk. The investor seeks $67,092.51 in this pending dispute.
FINRA Rule 2111
FINRA Rule 2111 requires brokers to determine whether an investment fits their investor’s financial goals when making recommendations. Brokers must consider a client’s tax status, age, and other information described in their investor’s profile.
Brokers must also ensure that any investment strategies they recommend are also suitable for their client’s investment goals. Investors who believe their losses are the result of unsuitable recommendations may be able to recover their funds by pursuing FINRA arbitration.
Logan Blewett has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Logan Blewett is a registered broker in seven states and a registered investment adviser in six states.
He has also worked for Mid Atlantic Financial Management (CRD#:109771) and Edward Jones (CRD#:250).
Kurta Law Can Help
If you worked with Logan Blewett and you have concerns about your investments, please contact us today at 877-600-0098 or email@example.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 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.