Louis Wargo is the Subject of an Alternative Investment Dispute

Louis Wargo (CRD #: 1416101), a broker registered with Osaid Wealth, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on April 23, 2024. Keep reading if you have questions regarding his conduct. 

Investor Dispute 

On March 7, 2024, an investor alleged that Louis Wargo recommended an unsuitable sale of an alternative investment. The investor is seeking $137,000.

Two other alternative investment disputes on his record collectively settled for $64,000. 

What is an Unsuitable Investment Transaction?

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 

Louis Wargo has passed the following exams: 

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

He is a registered broker in 22 states and is a registered investment adviser in Florida and Ohio. 

During his 29 years of experience, Louis Wargo has registered with five firms. 

• Osaic Wealth (CRD #: 23131) 
• FSC Securities Corporation (CRD #: 7461) 
• AXA Advisors (CRD #: 6627) 
• The Equitable Life Assurance Society of the United States (CRD #: 4039) 
• Merrill Lynch, Pierce, Fenner & Smith (CRD #: 7691) 

Kurta Law Can Help 

If you have worked with Louis Wargo 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.