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Luke Schunk Allegedly Recommended Unsuitable Investments

Luke Schunk (CRD #: 2387553), a broker registered with Moloney Securities, is the subject of an investor dispute. This is according to his BrokerCheck record, accessed on August 16, 2024. Keep reading if you have questions regarding his alleged conduct. 

Investor Dispute

On June 27, 2024, an investor alleged that Luke Schunk recommended unsuitable investments and engaged in negligence. The investor sought $50,000. 

What is an Unsuitable Investment? 

FINRA Rule 2111, a.k.a. The Suitability Rule, requires brokers to tailor their investment recommendations to suit investors’ needs. Rule 2111 also requires brokers to consider the following investor characteristics: 

  • Investment goals
  • Age
  • Risk tolerance
  • Time horizon (i.e., how long the investor plans to hold the investment)
  • Investing experience
  • Tax status

Investments that do not fit the criteria established by the investor profile may be unsuitable. Investors who rely on brokers for recommendations may recover their losses by pursuing FINRA arbitration.

Background Information 

Luke Schunk has passed the following exams: 

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination
  • Series 24 General Securities Principal Examination 

He is a registered broker in Arkansas, Florida, Iowa, Oklahoma, and Wisconsin. 

During his 30 years of experience, Luke Schunk has registered with three firms: 

  • Moloney Securities (CRD #: 38535) 
  • Eagle One Investments (CRD #: 45254) 
  • Investment Centers of America (CRD #: 16443) 

Kurta Law Can Help 

If you worked with Luke Schunk and you 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.

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